Developer, UK Bank Eye Settlement In £1.5M Property Row

Law360, London (January 30, 2019, 7:14 PM GMT) -- A U.K. court has paused a lawsuit brought by retail developers demanding £1.49 million ($1.95 million) from the Cynergy Bank for allegedly selling a handful of repossessed flats in London for below market value so the parties can pursue a settlement.

Chancery Master Karen Shuman gave the developers, husband-and-wife duo Nrinder Singh Gosal and Gurinder Kaur Gosal, until March 12 to reach a deal ending claims that the bank mismanaged the sales of repossessed investment properties scattered around the northern suburbs of England's capital.

If no settlement can be reached, the bank has until March 13 to file its defense, after...

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