07/08/2012 03:13pm - via http://bit.ly/M89tva... - Details
lamarcusjames720: Dozens of jobs would be lost by forcing a Belfast property investor to sell off a major UK retail portfolio and repay multi-million pound bank loans, the High Court has heard. Chris Walsh also claimed he would face likely bankruptcy if a bid...
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Dozens of jobs would be lost by forcing a Belfast property investor to sell off a major UK retail portfolio and repay multi-million pound bank loans, the High Court has heard. Chris Walsh also claimed he would face likely bankruptcy if a bid to dispose of all assets prematurely was allowed. The alleged consequences were set out as a judge granted him a continuing injunction to stop the Bank of Scotland taking action against him or his companies. A full trial in the case, which centres on disputed assurances about the length of time allowed to pay back the loans, is due to take place early next year. Mr Walsh's assets include properties at Kensington High Street in London, the Arndale shopping centre in Leeds, the Riverside shopping centre in Thetford, Direct Line House in Leeds, the Nag’s Head shopping centre in London and Balmoral Plaza at Boucher Road, Belfast. By 2007 the portfolio was valued at ?76m, with all but one of the transactions said to have been purchased through 20-year b
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