Halabi: the grand finale (sorry, could not resist)

As outlined exactly one year ago to the day, this is how it goes…

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/7546381/Property-tycoon-Simon-Halabi-bankrupt.html

As a by the by, the excerpt below also highlights (though unwittingly I think) the dilemma of government vis-a-vis the banks that have been allowed to diregard mark to market accounting rules….

Mr Halabi’s property empire was first revealed to be in trouble last June when a revaluation of his London office portfolio put its value at £929m, compared with £1.8bn in 2006.

Tic, toc…. tic, toc… tic, toc….

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