April 22, 2024

Earlier press coverage

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 Melissa Briggs interviewed on Radio 4’s MoneyBox Live earlier this year

This BBC documentary from 2009 includes the notorious “dribbling geriatric” remark. The Campaign against retirement leasehold exploitation campaign is given full coverage.

23.3.12 The Daily Mail – reporting on the choice of retirement homes – http://www.dailymail.co.uk/property/article-2119154/A-golden-opportunity-The-choices-retirees-tailored-needs.html?ito=feeds-newsxml

07.3.12 The Guardian – article about VT trial – http://www.guardian.co.uk/business/2012/mar/07/property-tycoon-vincent-tchenguiz-trial

06.3.12 Legal Week article about Peverel sale – http://www.legalweek.com/legal-week/news/2157527/raft-firms-line-gbp62m-private-equity-rescue-peverel

30.1.12 This bulletin from Seniors Housing contains many interest snippets about planning permission being sought for retirement developments, their locations and reasons for approval/refusal. McCarthy & Stone have had a design turned down recently as it just does not cut it design wise according to the planners. Click here to read the pdf document: Over50-UK-ACHW-30-1-12

17.1.12 LKPaid, the latest creative initiative from LKP is featured on the front page of the edition 58 of the News on the Block magazine – http://www.newsontheblock.com/uploadedfromxhtml/17-jan-2012/20157/a-new-fund-to-help-leaseholders-with-their-legal-fees.thtml

This edition of NOTB also contained an excellent series of articles on Enfranchisement or buying your Freehold, especially the one concerned with Right of First Refusal and what to do when you are not offered it.

15.1.12 – Read the Market Watch column Page 29, Review Section of the Mail on Sunday. “Follow the Scots and license property managers” by Sebastian O’Kelly.  This article will make LKP even more popular with Peverel. Online link: http://www.dailymail.co.uk/property/article-2087283/MARKET-WATCH-Follow-Scots-license-property-managers.html

23.12.11 – http://www.telegraph.co.uk/finance/financial-crime/8974083/SFO-setback-in-Vincent-Tchenguiz-investigation.html – today’s Telegraph article about the ongoing SFO investigation into the affairs of the Tchenguiz brothers. See also this Comment left under the article

Comment By Jonathan Russell, Assistant editor, Daily Telegraph 

The setback in the SFO’s investigation of Mr Tchenguiz and his brother Robert comes nine months after the pair were arrested and questioned in relation to their dealings with failed Icelandic bank Kaupthing.  It is understood the SFO is not going to drop its investigation into the brothers and has asked for certain elements of the evidence to be kept in storage and returned in January.

Both Vincent and Robert Tchenguiz brought judicial reviews against search and arrests warrants granted to the SFO and City of London Police in March. A hearing is scheduled for February when both cases will be heard. People close to the case suggested the hearing is still likely to take place.

It is understood Vincent Tchenguiz’s legal team challenged the arrests and search warrants on a number of issues, substantive and technical. He said: “I have consistently and repeatedly informed the SFO that they have got their facts wrong. Whilst I am delighted that they have asked for the warrants to be quashed, I am astonished that the SFO intends to continue its investigation. Their continuing actions are clearly a fishing expedition.”

Since the arrests took place it has emerged the SFO has been investigating the valuation of assets used as collateral for loans. The Pennyrock loan, a £100m loan taken out by Vincent Tchenguiz, is understood to be one of the issues at the heart of the investigation. Ground rents valued at over £1.5bn were pledged as collateral to cover the loan and parallel borrowings by Vincent’s brother Robert. The arrests of the Tchenguiz brothers were arguably the most high profile action by the SFO since its controversial work prosecuting BAE for alleged bribery.

Having decided not to defend the judicial review against search warrants granted by the court the SFO will now have to pay Mr Tchenguiz’s legal costs. It is not clear at this stage how much they amount to. Evidence was returned to Mr Tchenguiz’s lawyers yesterday, however a request was immediately submitted for the return of key parts of it.

A spokesperson for the SFO said: “The investigation into both Vincent and Robert Tchenguiz continues.”

The SFO’s decision on the judicial review comes two weeks after Mr Tchenguiz’s lawyers sent the crime fighters a letter threatening to a launch a £100m legal action for damages flowing from his arrest.

Mr Tchenguiz said: “It beggars belief that the SFO has taken so long to realise the error of their ways and I do not regard their actions today as being their own initiative – their hand has been forced by our legal actions. Whilst I am glad that they have conceded to pay the significant legal costs incurred – the damage their actions have caused, both financially and to my reputation, are far greater. I intend to pursue them through the civil courts for damages.”

11.12.2011 – Mail on Sunday – article by Sebastian O’Kelly regarding why Commonhold is not being actively promoted.  Link will be loaded when available.

3.12.2011 – The Daily Telegraph – article about another successful LVT result for Charter Quay resulting in a further £175,000+ payout, by Victoria Ward.

17.11.2011 – The Daily Mail – “Families inheriting a retirement home are left with huge bills”, by Lauren Thompson. http://www.thisismoney.co.uk/money/mortgageshome/article-2061975/Inheritance-tax-retirement-flats-Families-left-home-face-huge-bills.html

1.11.2011 –  “Leaseholders ‘overcharged’ £700 million for management fees, according to Which?” – Lee Boyce. www.thisismoney.co.uk/money/mortgageshome/article-2055707/Leaseholders-overcharged-700m-management-fees-according-Which.html

18.9.2011 – Mail on Sunday Property Section – Flat owners win record payout : click here to read the pdf  St George’s Wharf

26.6.2011 – This is Money – http://www.thisismoney.co.uk/money/news/article-2008333/Tchenguizes-warn-risks-businesses.html

19.6.2011 – Article by Richard Dyson, Peverel retirement homes charge extra VAT found on this site: http://www.insuranse.co.za/

A shake-up at Peverel, the controversial property management company, means that thousands of residents at their retirement homes have to pay more VAT. A restructuring of the business has added between £50 and £80 to the annual bill of about half of the 70,000 residents in properties managed by Peverel Retirement.

The charge is being imposed because the relationship between Peverel Retirement and the landlords of more than half of its 1,475 developments has changed since parts of the group went into administration earlier this year.

Residents typically make a single payment covering all property charges, including water and electricity, as well as management. VAT is paid on much of this already. The extra VAT will apply only to the management portion of the overall bills.

Peverel Retirement, managed by Keith Edgar, stressed that it ‘does not benefit from VAT charges’. The company has long faced bitter complaints from residents, many of whom have publicly accused it of pennypinching and poor maintenance. Peverel says that its average fee per property is £290 per year. This would mean an average VAT charge, where applicable, of £58.

8.4.11 – The Daily Mail carries article in Property Section – “Retire to a Worry Free Life”!!! by Nicola Venning


25.3.11 – The Week carries an article about the Tchenguiz brothers and problems in Peverel empire

23.3.11 – The Oldie, April issue, features us in the opening item of The Old Un’s Diary (first article of the magazine) on Page 7 – headline Retirement Rip-off – we will be loading a pdf shortly. The Oldie’s circulation is 38,540 and for those who are unaware of this excellent magazine, it is edited by Richard Ingrams, and is the equivalent of Private Eye for grown-ups!! Available from Smiths and other proper newsagents.

The Oldie April 2011

23.3.11 – Evening Standard carries an article about Tchenguiz’s Peverel in the administrator’s arms and a rival Managing Agent has started sending letters to Peverel blocks.


21.3.11 Seniors Housing Magazine

UK-21-3-11 Peverel story

19.3.11 Page 8 of the Money Section of The Guardian, another article by Patrick Collinson, headline Peverel Collapse sparks fears for tenants and leaseholders quotes us:


18.3.11 We have just discovered this excellent publication and will publish more modern items shortly: http://over50shousing.co.uk/core/uk-achw/bi/UK-ACHW-28-2-11.pdf

15.3.11 – there is now so much media coverage on the Tchenguiz/Peverel Administration story that we are only going to load the occasional article that is directly relevant to leaseholders. If you Google Tchenguiz, Peverel, Leasehold Exploitation, or any combination, you will find a wealth of information.  We have have been featured in over 2,500,000 different searches. Articles in which we have provided content or quotes for will be loaded.

News on the Block are currently carrying a lot of online information about related events.


The Mail online are now featuring the Tchenguiz debacle:


13.3.11 We were quoted again today in the property pages of the Mail on Sunday article by Sebastian O’Kelly about the party being over for Vincent Tchenguiz.  A pdf will be loaded shortly. Rumour has it that there will be more interesting exposees this week about the Kaupthing affair.

Another Daily Mail article on the amount of money spent by Vincent on outfitting his girlfriends for his party – whose money was it?


Article in the Sunday Telegraph about new SFO investigation into the Tchenguiz brothers involvement in the Kaupthing collapse.


6.3.11 Supporters were featured in another MoS article written by Sebastian O’Kelly about Peverel and the joys of living in a leasehold flat, and Ross Clark also in the MoS wrote an excellent article about the perils of leasehold in general. The pdf’s are here.


MoS Leasehold

27.2.11 We are featured in an article entitled “Now squeezed pensioners see value of their flats plummet” by Sebastian O’Kelly, p 34 of the Property Section

Mail on Sunday 27 2

26.2.11 Guardian article about Leases running out and buying your Freehold


20.2.11 We are  featured in the lead article in the Property Section of the Mail on Sunday, article by Sebastian O’Kelly