Bondholders to Hugh Osmond’s Pearl Group have said that they will not support or invest in relisting of the company because they are alarmed about the lack of information provided to them about a planned sale of the group as well as “fundamental concerns” about other recent transactions.

The move comes after Pearl, a life assurer, deferred making a £33m interest payment on the £500m bonds in March, angering some of the bondholders, which include blue-chip UK money managers, who could be asked to invest in a planned listing of the group as part of a restructuring.