The whiff of a bunker mentality hangs over the Mayfair headquarters of Vincent Tchenguiz. Perhaps this should not be surprising: Nicola Horlick, Mr Tchenguiz’ opponent in the battle for control of Bramdean Alternatives, has offices on the ground floor.

Mr Tchenguiz, who did not want to talk about Bramdean in detail before Thursday’s showdown meeting for shareholders, acknowledges with a smile that “there are some interesting characters” in the process.