Saturday, Apr 03, 2010
Can't go wrong with Bricks and Mortar!
Telegraph: Property tycoon Simon Halabi bankrupt
Simon Halabi, the property tycoon who was estimated to be worth £3bn in 2007 and whose portfolio includes London HQs of JP Morgan, Aviva and Old Mutual, has been declared bankrupt. The bankruptcy order was made in the High Court on Tuesday over a £56.3m loan he received from failed Icelandic bank Kaupthing Singer & Friedlander. The financial health of Mr Halabi has so far been difficult to establish because his control of the properties was through a web of off-shore vehicles and family trusts.
Posted by alan @ 09:42 PM (1008 views) Add Comment
12 Comments
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1. novice pete said...
Propety tycoon+bankrupt=goodness, at least in my simple reckoning.
2. taffee said...
yep...just come to the london 'scene' borrow over £1 billion after recommendations from your mates(probably from bos) and hey presto you are an entrepreneur and tycoon
Then when it all goes wrong telegrapgh will write about you and STILL call you a tycoon and entrepreneur
its a win win
3. estrader said...
This is what happens when you allow capitalism and free markets to function as they should, so
"And then my heart with pleasure fills,
And dances with the daffodils."
4. mark said...
maybe his wife is available now...lol
5. David47 said...
When I see these people going bankrupt with talk of offshore vehicles and familly trusts I cannot help the feeling that our bankruptcy laws are too soft and need tightening. Otherwise it is a game of heads I win tails I win not quite as much for these people....
6. markj69 str05 said...
Yet another example of how a poor naive individual is sucked into taking on a huge ammount of debt. Debt for teh individual = wealth creation for another. And who benefits??? Bankers.
We've all said it before, and i'll say it again - Hig risk financial wizardry, with low risk accountability. They certainly did create a model where damage limitation was minimal for themselves.
If anyone with political influence is listening now, take heed, the first party to really impose regulation on these parasites, and accept/acknowledge the current situation is going to win an awful lot of votes.
7. markj69 str05 said...
Pls excuse typo's - Too much sugar!
8. taffee said...
Think you are right, but the last person to suggest it was john f kennedy..true....fact is that the world is actually run by bankers, mainly using the federal reserve to control things... federal reserve is actually a private bank believe it or not secretly run by banking families including rothschilds and rockerfella and jp morgan, however, rothschild own shares in the others so effectively has 53% power share in fed.
You should google it... put it this way I wouldn't post my theories in writing about who really runs the world.
9. markj69 str05 said...
@ taffee... I have seen some of the theories you are suggesting. I'm not the first and will not be the last to suggest such things. And the financial industries have little to wory about when it comes to me, or the like. I have no influence, and doubt this site (As much as I like it), has much influence either. It will take a great deal to change the mentality of those that do have influence.
So who do we rely on? - Media and politicians. So nothing will change. Expect more of the same, as I do. And try to make the most of you're lot. Like so many, I will continue to try and do my best for my family.
At one time I would have said that bankers were upon the most respectible of professions. I used to think that my bank manager was there to guide and direct me in my own best interest. But now, I believe they are just trying to improve their own profitability. Society has lost a great mentor, and guide, when it comes to personal finance. And who is there to fill the gap??? No one. That's one reason why debt is so high. And debt makes bankers richer. Never-ending spiral - Downwards!
10. taffee said...
I think you have the right idea...I mean even if the theories are completely true,'they' are happy for those people to be seen as looneys
gennerally most people don't really care,seen by the way we managed to go to two illegal wars killing 600,000 based on a lie..the only people who really opposed it was robin cook(dead),george gallaway(ridiculed and discredited) and dr david kelly(killed imo)
scary stuff
11. gone-to-colombia said...
The last time I saw that man's wife she was playing a part in Thunderbirds, didn't she have a butler caller Parker?
12. inbreda said...
not a worry - he has probably salted millions away in tax havens.
win-win.
it's only the honest and hard working that get shafted. Over and over.