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Regional Property Developers going Bankrupt


Frank Hovis
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Frank Hovis

Each one while have their own specific reasons but if we genuinely are out of the "you can't lose on property era" then these will start falling like ninepins.

And every rainstorm starts with a single drop:

 

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Self-styled lord and Bristol property developer goes bankrupt

The 65-year-old, who lives at Dower House - the famous yellow house which dominates views from the outbound M32 motorway – was declared bankrupt earlier this year, it has been revealed.

Mr Jafari, who bought his title, is a well-known property developer in the city and has made national headlines on various occasions in the past.

He also made headlines when he was involved in a four-year battle over the future of Grove Wood, a 12-acre wildlife haven on the Blackberry Hill side of the River Frome, next to Oldbury Court in Stapleton.

Campaigners won a legal bid to have the site declared a town green and protected from development after contractors on the site, which was owned by Mr Jafari, started cutting down trees and bushes and attempted to restrict public access.

Official public records published in The Gazette show there was a petition for the bankruptcy of Lord Houshang Jafari-Najafabdi of Dower House in Parnell Road, Stapleton, filed on March 2, 2017 at the request of BDW Trading Ltd, based in Leicester, and M Mace construction consultants based in Temple Quay.

BDW Trading, according to its website, is part of the nation’s largest housebuilders, Barratt Developments, and has offices at Aztec West.

According to public documents Mr Jafari was made bankrupt on April 20, with the personal insolvency published on May 11.


 

 

This one being triggered by another developer - Barratts - may also suggest a domino effect could begin as the interconnected weave of deb obligations begins to unravel.

http://www.bristolpost.co.uk/news/bristol-news/self-styled-lord-bristol-property-124560

 

All too early to tell but if there are regular bankruptcies coming in from the regional press then you will start dipping into fire sale territory.

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Oh christ, North Yorks had a whole string of them. All involving people hod spent the previous 10 years being inthe papers for dong this and that.

The market did not collapse but I think a lot of stuff is being help of banks balances sheets.

Crash delayed rather than missed.

 

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9 minutes ago, One percent said:

That link has everything. misogynist attitude, sharia law.... 

And this little kicker too:

Mr Jafari hit the headlines in 2010 when he was jailed for a year for attacking a helicopter that landed outside his flat.

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One percent
3 minutes ago, TheBlueCat said:

And this little kicker too:

Mr Jafari hit the headlines in 2010 when he was jailed for a year for attacking a helicopter that landed outside his flat.

He tried to open the pilot's door before kicking the aircraft, throwing a plastic bag full of chicken bones towards the rotor and holding on to the skid bar causing the helicopter to lurch dangerously to one side.

 

fecking loon. xD

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