Property Co. Wins £15M Ruling In Bidding War Spat

By Alex Baldwin (July 28, 2022, 8:53 PM BST) -- A London court has ruled that real estate sponsor Bugsby Property is entitled to £14.9 million ($17.96 million) in damages for losing out on a bid to buy London's Olympia Exhibition Center after a key lender it was in talks with decided to finance the rival winning bidder.

In a lengthy judgment Wednesday, High Court Judge Robin Knowles held that Bugsby was entitled to damages for the "loss of a chance" to secure a key financier after Legal & General Group and its subsidiary LGIM Commercial Lending helped finance a consortium led by Yoo Capital — which ended up securing the...

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