HK Parkview chases debtors

HONG KONG Parkview's repossession agent Semisquare, appointed to gain control of the company's south London landmark Battersea Power Station, has served a writ on all debtors.

In a move that should mark the final phase of the company's takeover of Battersea, Parkview is expecting a hearing in mid-November, which will confirm whether the site should be auctioned off to the highest bidder or transferred to the principle debt holder.

Parkview bought GBP73 million (about HK$889.5 million) of debt from Bank of America for an undisclosed sum. Creditors also interested in the writ include Sir Robert McAlpine, who is owed about GBP20 million.