Countrywide Takes On Investor Over Failed £38M Deal

Law360, London (October 12, 2020, 5:13 PM BST) -- Britain's largest estate agent group is suing a Monaco-based investor in the High Court for damages after a £38 million ($50 million) deal to buy its commercial property arm failed. 

Countrywide Group PLC says it exchanged contracts to sell Lambert Smith Hampton Ltd. to John Bengt Moeller for £38 million in November. The company alleges that Moeller has "failed to complete the purchase" after agreeing on a timetable to complete the deal, according to court documents recently made public.

Countrywide, which also offers mortgage and insurance services, says it has been able to find an alternative buyer for the subsidiary. But...

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