Mansion Developer Must Pay British Bank £4M Guarantee
Law360, London (March 19, 2020, 3:33 PM GMT) -- A luxury property developer owes a British bank £4.1 million ($4.7 million) after a London judge said Thursday that the lender never promised to wait until after a mansion sold to demand repayment of a loan.
High Court Judge Andrew Baker granted summary judgment in favor of United Trust Bank against Konstantinos Diamantopoulous, the owner of a boutique mansion development company in London, finding he personally guaranteed the bank's loan.
During a site visit, and later, in an email, a bank director did not promise to let Diamantopoulous sell a £25 million mansion in Notting Hill before demanding repayment of a...
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