Chairman's £32m. claim in £160m. of Long Port debt
LONG PORT GROUP entities owe more than £160m, court papers show.
That includes a claim of £32m. from group chairman Charles Billson, while Lloyds Bank International Ltd is claiming in the region of £130m.
Eight limited companies were put into administration and two limited partnerships wound up following successful applications by Lloyds in the Royal Court earlier this month.
Attached to an affidavit that was put before the court from Mr Billson was a copy of a letter he had written to one of the companies, Long Port Properties Ltd, on 2 December demanding repayment of £32m.
Despite its name, Long Port Properties Ltd is the only one of the entities not to own property and represents the employees and operational side of the business.
The debt action has put 15 jobs at risk.
Sorry, we are not accepting comments on this article.