Thu, 09 Jun 2011 | BUSINESS SALE
The Bank of Scotland has taken control of further assets belonging to stricken property developer, Peter Curistan, in a bid to recover money it is owed.
The bank has appointed an administrator to Curistan's Quito Developments. The subsidiary company controlled a multi-storey car park in Belfast city centre, along with three hop units in the city's Tannery Building.
While the appointment of the administrator is still a very recent development, it is believed that a sale of the assets is likely, as the bank tries to reclaim some £17 million that it is owed. Peter Curistan is also understood to owe Anglo Irish Bank an unspecified sum. The two are currently involved in a legal battle over the bank's recovery of its money.
Another Curistan firm, Marcus Ward Ltd, was granted an injunction in April that stopped Anglo from lodging a winding up petition against the company, due to an alleged £10 million debt. He had alleged malpractice against the bank in its handling of the debt.
At the time of the administration, Quito Developments had Peter Curistan's wife, Marian, registered as its sole director and shareholder. Her husband, however, has been acting as her nominated representative, handling the dealings with the administrator.
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