Grainger Plc Linked In Ventra Investments Case

Grainger Plc, which says it is the UK’s largest listed residential landlord, is being further linked to a complex court case involving Lloyds Banking Group subsidiary Bank of Scotland.

The joint liquidators of Ventra Investments Limited are suing the Bank of Scotland saying the business was damaged by loans which they claim were mis-sold by the bank. Prior to its failure in 2011 Ventra Investments was a successful family owned property investment and letting company with a portfolio of central London property worth, in 2008, an estimated £86m.

The Times report says that in order to settle its debts, Lloyd’s retained Grainger to manage Ventra’s properties. However, it is now being alleged that agents subsequently appointed by Grainger sold properties under value and/or to buyers with whom those agents had a connection.

The case is due to be next heard in the Commercial Court commencing in January 2020.

Source The Times
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