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ELYSIUM LAW NEWS

Our Involvement in Commercial Sale-Pinnacle Paramount Development Liverpool

Elysium Law has advised the Directors of Pinnacle Student Buyers Limited in the successful sale of the Paramount Site Liverpool formerly the site of the Odeon Cinema.

The site, which was one of the many filed Pinnacle Developments was left largely uncompleted following the Collapse of the Pinnacle Groups having distributed large amounts of funds contributed by buy-to-let purchasers for the acquisition of the land and the building of the apartments.

The SRA are looking at the conduct of certain solicitors who payed an active role in this matter. and Elysium Law are acting for a large number of purchasers in respect of claims against the conveyancing solicitors involved.

The details of the purchase price and the purchaser under the new agreement are confidential at the moment.

Through the efforts of Elysium Law and the directors who are all Hong Kong based, a considerable increase on the initial bid price was achieved and the matter is now moving to completion.

Richard Gray