Receivers have begun selling assets owned by Robert Tchenguiz as they seek to recoup funds for creditors of collapsed Icelandic bank Kaupthing.
Tchenguiz’s 2% stake in House of Fraser has already been sold and Magna Park in Leicestershire was sold yesterday for £45.4m to Aberdeen Asset Management. His home, the £50m mansion next to Albert Hall, is also on the list of assets for seizure, as is his Mayfair office, Leconfield House.
Kaupthing lent Tchenguiz £1.6bn before it collapsed during the financial crisis.
Times, 51
