Lloyds Banking Group was chasing debts and investments of more than £700m on Thursday night after the collapse of UK property developer Kenmore, reports The Times.  Administrators at Grant Thornton were appointed to salvage what they could of Kenmore, a £1.8bn collection of funds and companies. The company’s debts are part of a £70bn commercial property loanbook inherited by Lloyds, now 43% state-owned, when it took over HBOS last year. The FT adds that there is talk of a possible management buy-out of part of the business.

This entry was posted by Gwen Robinson on Friday, November 13th, 2009 at 4:39 and is filed under Capital markets, M&A. Tagged with grant thornton, Kenmore, Lloyds Banking Group. Edit this entry.