I'm not so sure that Mr Steadman is that clever. He clearly has some money from somewhere but did he make it himself, and even then did he just get lucky? He was bright enough to set up the triumvirate in such a way that he ended up getting the freehold back and not being a director of a failed company, and via his 75% of QMH and QMH's 100% ownership of PLM he effectively owns the marina and "bistro" too. But in the end what has that arrangement achieved? If he'd just owned 100% of a single company, with a proper director capable of running a sane marina paying its NAA fees, and that company held the freehold on a mortgage to Mr Steadman, his interests would still be protected and surely he'd be doing better by now out of that without all the hassle?
It looks to me as if he saw that John Lillie had the technical knowledge to build a marina, but didn't see PL's inability to get along with people and lack of business sense, and now can't bring himself to accept that he got that appointment wrong. That's probably the only hold PL has over him.
As MtB says, Steadman may yet turn out to have some long-term plan we can't see, but I doubt it. There appears to be little or no possibility of a housing development either getting planning permission or being financially viable on land prone to flooding, so his best prospect is to continue as a marina. All the smoke signals coming from CRT suggest that 750LLtd is not getting far in its quest for a NAA and won't until Steadman dances to Phil Spencer's tune. The precise details of the tune have not been revealed, and there might be something in the Leicester Canal Act 1791, or the judicial review procedure, to stop CRT putting a price tag on the NAA as I'd hoped, but we do know CRT will make sure 750LLtd or any other vehicle owning the site will have to pay NAA fees from now on.
So Steadman's best option from where he is now must be to dump PL as a liability, put in a proper manager, as he should have in the first place, to tidy up the mess, and pocket a modest return on his investment as the marina recovers.
Just seen AndrewIC's post; I wonder if PLT, as I suppose we should call it, is a Roy-Rollings free replacement for 750LLtd, created to pave the way for a deal with CRT? This is of course, just an educated guess.