Financier Fights Bankruptcy In €40M Santander HQ Loan Saga

Law360, London (July 13, 2021, 7:13 PM BST) -- Irish financier Derek Quinlan has hit out at an attempt by Luxembourg-based Edgeworth Capital to bankrupt him, accusing the investment fund of acting oppressively and misusing the English court's powers to take over his interest in Santander's Madrid headquarters.

Quinlan said in new documents filed with the High Court on July 2 that Edgeworth Capital (Luxembourg) SARL's petition for his bankruptcy is an abuse of process that should be struck out.

The company, which is owned by property investor Robert Tchenguiz, has since 2018 been purely motivated by the "collateral advantage" of acquiring the Santander property at the expense of creditors,...

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