Battersea Power Station Loans Called a Day After Osborne Backs Rail Link

Creditors of Battersea Power Station asked a court to put the landmark property’s owner into administration the day after U.K. Chancellor of the Exchequer George Osborne backed a London Underground extension to boost the area’s development.
A group led by Lloyds Banking Group Plc (LLOY) and Ireland’s National Asset Management Agency will ask an English court on Dec. 12 to have administrators appointed for various units of Battersea Power Station Shareholder Vehicle Ltd., according to a statement yesterday. The lenders are owed 502 million pounds ($786 million).

Read the rest of the story here:

http://www.bloomberg.com/news/2011-11-30/battersea-power-station-creditors-call-in-788-million-of-loans.html

 

 

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