PE Funds Press For Quick Win In $77M Ship Demo Suit
Law360, London (September 22, 2020, 6:09 PM BST) -- The sons of a ship demolition magnate were experienced businessmen and can't blame their father's "undue influence" over a company they controlled to escape a $76.7 million lawsuit over loans they guaranteed, a lawyer for five private equity firms told a London judge Tuesday.
At a hearing in the High Court, counsel for the lenders, Richard Waller QC, urged the judge to grant summary judgment to enforce personal guarantees Muhammad Ali Lakhani and Muhammad Hasan Lakhani signed on behalf of a ship brokering business.
The two men had spent years in the ship demolition business, attended school in London and even worked...
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