Swordfish Studios

In October 2002 in a claimed cost cutting exercise Rage Software Limited sold it s Birmingham development studio for £1 to Swordfish Studios, a company founded by Rage executive director Trevor Williams and Joan Finnegan, wife of Rage managing director Paul Finnegan.

Following the sale, Mr Williams was to resign from Rage and Paul Finnegan, previously MD, would become executive deputy chairman. Claimed as part of Rage s strategy to reduce costs the sale seems more fitting to act as part of the Finnegans retirment plan.

In addition to a very reasonable sale price Rage provided Swordfish with a £50,0000 interest-free loan repayable in three years. Rage only lasted another 3 months.

A recent check at companies house now shows a Mr Paul Finnegan as director alongside Trevor Williams. Paul s wife Joan retains her 50% shareholding with the remaining 50% being held by Trevor.