The Times (‘Halabi may have to sell-up to pay loan‘ – 16 July 2009) is reporting that Simon Halabi, the multi-millionare businessman, may have to sell part of his London property portfolio to satisfy bond holders after the value of the properties dropped by nearly half, breaching the loan-to-value ratio of the bond secured against it. In 1997, Halabi bought the Grade-I listed Mentmore Towers in Buckinghamshire, formerly one of the Rothschild banking family’s most famous and impressive houses, with the intention of converting it into a luxury hotel. It’s not known how far work on that project has progressed but the grand chateau-style house, which also starred in the film ‘Batman Begins’ as Bruce Wayne’s house, is just too important to be forgotten so I hope that his other issues don’t impact on the work being undertaken as part of that project.
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