• Menu
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Before Header

  • Home
  • What is LKP
  • Contact
Donate

Leasehold Knowledge Management Logo

Secretariat of the All Party Parliamentary Group on leasehold reform

Mobile Menu

  • Home
  • What is LKP
  • Contact
  • Advice
  • News
    • APPG
    • ARMA
    • Bellway
    • Benjamin Mire
    • Brixton Hill Court
    • Canary Riverside
    • Charter Quay
    • Chelsea Bridge Wharf
    • Commonhold
    • Communities Select Committee
    • Conveyancing Association
    • Countrywide
    • DCLG
    • E&J Capital Partners
    • Exit fees
    • Fleecehold
    • FPRA
    • Gleeson Homes
    • Ground rent scandal
    • Grenfell cladding
    • Hanover
    • House managers flat
    • House of Lords
    • Informal lease extension
    • Insurance scams
    • IRPM
    • Jim Fitzpatrick MP
    • John Christodoulou
    • Justin Bates
    • Justin Madders MP
    • Law Commission
    • LEASE
    • Local authority leasehold
    • London Assembly
    • Louie Burns
    • Martin Paine
    • McCarthy and Stone
    • Moskovitz / Gurvits
    • Mulberry Mews
    • National Leasehold Campaign
    • Oakland Court
    • OFT / CMA
    • Park Homes
    • Persimmon
    • Philip Rainey QC
    • Plantation Wharf
    • Peverel
    • Prostitutes
    • Quadrangle House
    • Redrow
    • Retirement
    • RICS
    • Right To Manage Federation
    • Roger Southam
    • Sean Powell
    • RTM
    • SFO
    • Sinclair Gardens Investments
    • Sir Ed Davey
    • Sir Peter Bottomley
    • St George’s Wharf
    • Taylor Wimpey
    • Tchenguiz
    • West India Quay
    • William Waldorf Astor
    • Windrush Court
  • Parliament
  • Accreditation
Menu
  • Advice
  • News
      • APPG
      • ARMA
      • Bellway
      • Benjamin Mire
      • Brixton Hill Court
      • Canary Riverside
      • Charter Quay
      • Chelsea Bridge Wharf
      • Commonhold
      • Communities Select Committee
      • Conveyancing Association
      • Countrywide
      • DCLG
      • E&J Capital Partners
      • Exit fees
      • Fleecehold
      • FPRA
      • Gleeson Homes
      • Ground rent scandal
      • Grenfell cladding
      • Hanover
      • House managers flat
      • House of Lords
      • Informal lease extension
      • Insurance scams
      • IRPM
      • Jim Fitzpatrick MP
      • John Christodoulou
      • Justin Bates
      • Justin Madders MP
      • Law Commission
      • LEASE
      • Local authority leasehold
      • London Assembly
      • Louie Burns
      • Martin Paine
      • McCarthy and Stone
      • Moskovitz / Gurvits
      • Mulberry Mews
      • National Leasehold Campaign
      • Oakland Court
      • OFT / CMA
      • Park Homes
      • Persimmon
      • Philip Rainey QC
      • Plantation Wharf
      • Peverel
      • Prostitutes
      • Quadrangle House
      • Redrow
      • Retirement
      • RICS
      • Right To Manage Federation
      • Roger Southam
      • Sean Powell
      • RTM
      • SFO
      • Sinclair Gardens Investments
      • Sir Ed Davey
      • Sir Peter Bottomley
      • St George’s Wharf
      • Taylor Wimpey
      • Tchenguiz
      • West India Quay
      • William Waldorf Astor
      • Windrush Court
  • Parliament
  • Accreditation
You are here: Home / Latest News / Tchenguiz brothers fall out among themselves, says The Times

Tchenguiz brothers fall out among themselves, says The Times

May 17, 2018 //  by Sebastian O'Kelly

The Tchenguiz freeholds include all the historic McCarthy and Stone freeholds, the city of Huddersfield and the prime Berkeley group site along the Thames

The Tchenguiz brothers – who before the crash were among the most powerful corporate players in the UK – are litigating again: this time among themselves, according to today’s Times.

The dispute centres on the Tchenguiz Family Trust, based in the British Virgin Islands, which at one point claimed to own one per cent of all residential freeholds in the UK.

The Times says:

“The origin of the latest dispute can be traced back to 2007, when the siblings’ father Victor — an Iranian businessman who was formerly the head of the mint for the Shah of Iran — expressed a wish to divide the Tchenguiz Family Trust into two segregated trusts. The family trust was for Vincent and his descendants, while the Tchenguiz Discretionary Trust was established for Robert and his family.”

Robert Tchenguiz, 57, is suing his brother Vincent over representations to Grant Thornton, the liquidator of failed Icelandic bank Kaupthing.

Legal row splits Tchenguiz brothers

Robert and Vincent Tchenguiz are no longer speaking to each other after a legal row over the administration of a family trust set up by their father.

It was over these issues that the two were arrested by the Serious Fraud Office in March 2011, on wrong evidence as it turned out. But it prompted the final unravelling of their property empire, and pitched Peverel – renamed FirstPort – into administration.

The empire of Vincent Tchenguiz is a shadow of its former self, with ground rent income from the residential freeholds going to Rothsay Life, a pension fund set up by Guildsman Sachs, although it no longer has a beneficial interest.

The Tchenguiz income is understood to be limited to consent fees – subletting, alterations – and the redevelopment potential of the freeholds.

Related posts:

Astor Times Front pageFamilies challenge Long Harbour for freeholds to Bellway leasehold houses, The Times reports Default ThumbnailTchenguiz gets a reprieve from Lloyds Bank ‘Fright night’ for Taylor Wimpey as profits fall 24% over leasehold scandal, says Times ‘Gargantuan’ Grenfell cladding bills from Astor and Tchenguiz on sites such as New Festival Quarter, The Times reveals today The Sun / The Times urge caution over leasehold purchases, while The Times / Guardian / Mail report Barratt paying out £2m at Citiscape

Category: Latest News, News, Press, TchenguizTag: Tchenguiz Family Trust, The Times

Latest Tweets

Tweets by @LKPleasehold
Previous Post: « Please exempt retirement housebuilders from ground rent ban, pleads Sir Desmond Swayne
Next Post: Gleeson CEO Jolyon Harrison responds over ‘fleasehold’ row and asks Justin Madders for an apology »

Reader Interactions

Comments

  1. Michael Epstein

    May 17, 2018 at 10:19 pm

    It has been a spectacularly bad tome for the Tchenguiz brothers.
    In addition to his well documented residential property woes Vincent Tchenguiz has recently had another part of his empire fall into administration. This was his Zinc Hotels group who owned the freeholds to several high profile Hilton hotels. Mounting debts forced him to put the portfolio on the market. When a buyer could not be found and a legal battle over repairs to the Kensington Hilton was lost the group was forced into administration.
    In the meantime, Robert Tchenguiz has lost a major court case in Guernsey against Investec involving the collapse of the Kaupthing Bank. I understand this latest setback could cost Robert Tchenguiz up to £140,00,000 and could lead to Robert Tchenguiz having his home (a mansion next to the Royal Albert Hall and valued at £20,000,000 being re-possessed. And if that were not bad enough Grant Thornton are taking action to reclaim costs from Robert Tchenguiz (which are said to be substantial) Happy days!

  2. Trevor Bradley

    May 22, 2018 at 10:48 am

    There was a documentary last night, 21 May, on BBC2 at 9 pm. The rise and fall of Robbie Tchenguiz, brother of Vincent Tchenguiz. Losing millions in the financial crash
    If you want to watch the programme it is available to view on the BBC I Player

Above Footer

Advising leaseholders. Avoiding disasters.
Stopping forfeiture. Exposing abuses. Urging reform.

We depend on individuals for the majority of our funding.

Support Us and Donate

LKP Managing Agents

Become an LKP Managing Agent

Stay in Touch

To achieve victory in the leasehold game where you are playing against professionals and with rules that they know all too well - stay informed with the LKP newsletter.
Sign Up for Newsletter

Professional Directory

The following advertisements are from firms that seek business from leaseholders.
Click on the logos for company profiles.

Leasehold Law logo

Footer

About LKP

  • What is LKP
  • Privacy and data
  • LKP Site Map

Categories

  • News
  • Grenfell cladding
  • Commonhold
  • Law Commission
  • Fleecehold
  • Parliament
  • Press

Contact

Leasehold Knowledge Partnership
Open Data Institute
3rd Floor
65 Clifton Street
London EC2A 4JE

sok@leaseholdknowledge.com

martin.boyd@leaseholdknowledge.com

Copyright © 2021 Leasehold Knowledge Partnership | All rights reserved
Leasehold Knowledge Partnership Limited (company number: 08999652) is a company limited by guarantee that is a registered charity (number: 1162584) with the Charities Commission.
Website by Callia Web