The property tycoons who are credited with kickstarting the development of London’s Canary Wharf are involved in a family court battle in Canada, a Washington Times report says.
Ralph and Albert
Reichmann are the billionaire commercial property developers behind London’s Canary Wharf, the World
in New York City and
other high profile world developments credited with reshaping their respective
Ralph has already been sued by his son Abraham for what is called ‘shareholder oppression’. In the latest twist, it is now being reported that 86 year old Ralph is suing 91 year old Albert in Ontario, Canada.
The Reichmann family’s business, Olympia & York Developments, has been called ‘the greatest property development company in western history’ and the family were at one time believed to be the world’s fourth richest with a $13bn fortune. The Washington Times claims that former Prime Minister Margaret Thatcher sought the involvement of the Reichmanns in the Canary Wharf scheme when she discovered that their assets rivalled those of the Queen.