Family Of Vijay Mallya To Hold On To Luxury London Home
NDTV
Rose Capital Ventures (RCV), a British Virgin Islands firm linked to the Mallya family trust which owns the Cornwall Terrace property in central London, had made an application in the London High Court which was heard last Friday.
The family of Vijay Mallya will be able to hold on to their luxury London home after a UK court ruled that refinancing of a loan by a family trust firm would not be in breach of the worldwide freezing order (WFO), in place against the embattled liquor tycoon.
Rose Capital Ventures (RCV), a British Virgin Islands firm linked to the Mallya family trust which owns the Cornwall Terrace property in central London, had made an application in the London High Court which was heard last Friday.
Judge Simon Rainey QC ruled that the refinancing is a "permissible transaction" as it meant investment in a prime London property.
"The proposed realisations are proper," the judge noted.
