Developer Accuses Accountants Of Underselling Tower
Law360, London (February 5, 2019, 8:25 PM GMT) -- A London-based property developer has again accused two receivers from accountancy firm Menzies LLP of withholding information from prospective buyers of a distressed £250 million ($324 million) development project in the city's south west, according to court documents.
CNM Estates reiterated claims that receivers appointed to sell Tolworth Tower withheld information about the property's complex ownership situation and as a result sold the local landmark at a loss.
The property developer said in a Jan. 31 filing that Simon Carvill-Biggs and Freddy Khalastchi failed to tell prospective buyers bidding on the tower that CNM's director, Wahid Samady, had acquired a lease for...
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