They claimed they were not told, before entering into their investments, of the existence of a loan-to-value covenant in bank borrowings to secure the investments.
The property in question was acquired by the fund in February 2006 but in 2010 a receiver was appointed over it and it was sold in 2011. He says he and his company suffered loss following the appointment of a receiver on foot of the breach of the loan-to-value covenant and the subsequent sale of the property while it was in negative equity.
Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut: