Bob Edmiston’s highly profitable loan-lending business, The Funding Corporation (TFC), has applied to the High Court for permission to bring a claim against collapsed property finance company Lexi Holdings.
This morning, TFC applied to Briggs J for permission to commence proceedings against Lexi concerning funding that TFC allegedly provided to finance Lexi’s borrowings.
Lawyers for TFC told the court that it was“deceived” when it entered into the agreement with Lexi and, as a result, wants to ask for the assignment of rights acquired by Lexi in properties over which Barclays Bank now helds legal charges.
The application is scheduled to last two days.
The case continues.
