Nama administrators move in on £700 million London scheme

Nama has called in administrators to a £700 million scheme in London as the agency takes action against British developers which owe money to the agency.

5th February, 2011

Nama has called in administrators to a £700 million scheme in London as the agency takes action against British developers which owe money to the agency.

The 90,000 square metre development in the City of London is owned by British property firm Beetham Organization, which is controlled by father and son Hugh Frost and Stephen Beetham.

The Trinity scheme is on the site of the Aldgate bus station on the east side of the City. The...

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