Thames Bank Property says it has attempted to serve legal papers against Tristan Capital Partners and a subsidiary of the firm’s EPISO 4 fund over a claim linked to a completed development in Plymouth.
As previously reported, the UK property and development company specialising in city centres alleges it is owed ‘substantial unpaid debts' – a claim refuted by Tristan.
Thames Bank said in a statement it had served proceedings and is awaiting the London-based company to acknowledge. Tristan’s law firm is Bryan Cave Leighton Paisner (BCLP).
Thames Bank argues it is owed £750,000 (€850,000) arguing that it originated the Derrys department store site in 2016 and paid the £750,000 deposit at its own risk on exchange of the land contract.
Tristan denies the claim.