Courts / Ireland / Report

UK businessman challenges IBRC's refusal to recognise £113m judgement

Summary

Mr Baljit Singh Bhandal, a British businessman, has taken legal action in the Irish High Court against the Irish Banking Resolution Corporation Ltd (IBRC) in special liquidation. Bhandal claims that IBRC refused to recognise a £113 million judgment he secured against it in the English High Court in March 2013, which arose from a sale of his property Updown Court in Surrey. He argues that IBRC's special liquidators rejected his claim on the basis that it was not "true and bona fide," citing a 2015 judgment that found him involved in money laundering and that the property was acquired through proceeds of crime. Bhandal maintains he was never charged or convicted of those offences and seeks to have the 2013 judgment admitted as an unsecured liability in the special liquidation, and to review the liquidators' exercise of powers. The case was heard before Mr Justice Tony O'Connor and is expected to continue for several days.

Who, what, where, when and why

What: Report matter: UK businessman challenges IBRC's refusal to recognise £113m judgement. Procedural stage: charge_or_pretrial

When:

• March 2013 Hearing Or Sentence
• July 2001 Hearing Or Sentence
• 2019-02-05 Publication

Why: In order to fund the redevelopment of the property, he borrowed some £14m from Irish Nationwide Building Society in 2000. CNI source report

Places mentioned

Topics

Fraud Stage Charge Or Pretrial

Read the original CNI report