The dealmaker, the bank and the missing skyscraper series - UPDATE

Friday, 18 August 2017, 7:55 am

Credit Suisse has failed to get a Norwegian tycoon's claim thrown out of the High Court court and could be heading for a messy trial with plenty of juicy disclosure.

Court moles have got in touch with Betaville to inform this website that on July 11, 2017 the Honourable Justice Teare dismissed Credit Suisse's attempt to "strike out" with summary judgement Brova's multi-million claim over the Hertsmere House fiasco.

All parties now have provide standard "disclosure" by October 20 this year, according to Betaville's moles.

Now, in case you don't recall, Brova - which was controlled by aviation entrepreneur Milos Andric - has been chasing Credit Suisse and one of its former bankers, Hans Olav Eldring, in the British High Court for several years after putting down just over EURO 8 million as a deposit for a loan to finance a scheme backed by the Swiss bank to develop a 74-storey residential tower in Canary Wharf called Hertsmere House.

Here are links to the original Financial Times piece, some of Betaville's scoops and stories, and a follow up in The Guardian newspaper:

https://www.ft.com/content/122d3106-4d3e-11e3-9f40-00144feabdc0

http://betaville123.blogspot.co.uk/2014/05/the-dealmaker-bank-and-missing.html?m=1

https://www.betaville.co.uk/news/the-dealmaker-the-bank-and-the-missing-skyscraper-part-3/

https://www.theguardian.com/business/2014/jun/09/credit-suisse-faces-possible-legal-action-over-failed-london-tower-deal

Brova, though, wasn't the only investor that tipped millions of pounds into the "project".

Mohammed al-Besher, Saudi Arabia’s ambassador to the United Arab Emirates, claimed to have lost £25m in the failed plan to build a 74-storey residential tower that was being developed by Tom Ryan, a mysterious "property developer" that has been arrested but not yet charged over the Hertsmere House affair.

However, Oliver Shah revealed in The Sunday Times earlier this year that Credit Suisse and the Saudi Arabian diplomat settled their legal row.

So, Betaville wonders (out loud) whether Credit Suisse might be enticed to settle with Brova by October 20?...

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[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].

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