A corporate raider who tried to seize control of a property portfolio owned by the tycoon Vincent Tchenguiz has lost a court battle and now faces being referred to the Insolvency Service.
Clifden Isle of Man No 1, an investment vehicle, and its director, former Royal Bank of Scotland financier Rizwan Hussain, were told by a judge they had embarked on an “unprincipled asset grab”.
Their behaviour was “very bad indeed”, Judge Philip Kramer said at the end of a two-day hearing at the High Court last week.
