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.