The Grand Stainer Sting
Mortgage lenders, some of whom are household names, must rue the day they lent money to the Stainers, as they count the losses they are making on the 19 Stainer flats. Now we can share with you the eyewatering losses they have made, thanks to the enclosed schedule of these properties. This schedule was drawn up after their November 2018 bankruptcy, which saw all the flats vested in their Trustees in Bankruptcy, MacIntyre Hudson LLP, with the intention of selling them to pay the Stainers debts of £1.7 million. In some cases, the lenders stepped in and called in their loans, not that it helped them one bit!
Wonder who has bought the freehold. Would never be surprised if it was the Council, with the intention of handing it back to Stainer.
I doubt the council would buy it and give it back to Mikey.
But then again……Anything is possible with this council..
By law, the residents had the right to take over any sale struck at the auction — so whether Monk or Strainer or Mickey Mouse won the auction — tough!!!!
As far as the lenders are concerned, lack of due diligence would seem to be the case.This is especially true of Nat west who loaned £10K on an empty water tank room. Head office were informed but they did not want to know.
Will the new freeholder ban him from the building like he’s done to everyone who challenged him? Serve the scumbag right. Lock him out then lock him up.