The sale of one of Britain’s biggest caravan park operators will be at the centre of a dispute among executives at an industrial tribunal today.
US private equity house GI Partners is facing allegations that it lied to HBOS to acquire Park Resorts, a caravan operator with 35 sites, for £440m in 2007.
Martin Grant, who was dismissed by GI Partners as chief executive of Park Resorts, is claiming that GI misled HBOS. Along with two other directors who are also suing for wrongful dismissal, he will tell the tribunal that GI dishonestly misrepresented the profits that Park Resorts was set to report.
24/08/09 Times 34
