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Connelly sued for commission



Irish private equity investor Denis Connelly is being sued for £250,000 in unpaid commission and interest.



 


Property agent Bond Woodhouse claims Connelly has not paid the commission he allegedly owes on the £17m West Two scheme, in Birmingham, that he bought in 2005.



 


The high court claim alleges that Connelly’s private equity company, Capital Invest, bought the entire 118-flat scheme from developer KingsOak, after Bond Woodhouse introduced him to the site.



 


They allegedly agreed that, if Connelly purchased the scheme, the agent would receive a commission of 1% of the purchase price.



 


Connelly said he was “vigorously defending the claim”.


 


christian.metcalfe@egi.co.uk


 


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