The property tycoon Vincent Tchenguiz has settled his £1.5bn dispute with the collapsed Icelandic bank Kaupthing, which has seen him regain control of a string of property assets
The property tycoon Vincent Tchenguiz has settled his £1.5bn dispute with the collapsed Icelandic bank Kaupthing, which has seen him regain control of a string of property assets.
Mr Tchenguiz, his Euro Group business and the trustees of the Tchenguiz Family Trust announced yesterday they had reached an agreement “to settle all claims” brought against Kaupthing, which is currently being wound up. Mr Tchenguiz said he was “delighted that we have been able to bring this complex matter to a satisfactory conclusion”.
The move is expected to pave the way for Mr Tchenguiz to refinance a £2bn debt pile, while it also raised questions over the strength of allegations from the Serious Fraud Office against the property investor as part of its investigation into Kaupthing’s collapse.
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