There's lots of folklore about this.
I was speaking to Martin Lilley about this 3 months ago and the truth is, whilst he would have liked to have produced the Trident, he knew full well it was a non-starter and denies that he ever intended to put it into production.
Not sure if that is fully true, however, as he did go to Fissore intending to take home the plans and was somewhat miffed to find he had been beaten to it by Bill Last (who had 'stolen' the plans, depending on who you speak to!)
Bill Last himself (now sadly deceased) did, I believe, deny he ever paid TVR's debts off (I have a copy of a letter from him saying that but I would have to find it to verify my facts) but again, the truth is always somewhere in between what each party says!