Qatari Diar Real Estate Investment Co., part of the emirate’s sovereign-wealth fund, deleted e-mail evidence and let witnesses lie during a trial over a botched deal to build luxury apartments at London’s Chelsea Barracks , U.K. developer CPC Group Ltd. told a judge.
The real-estate investment arm of Qatar’s sovereign-wealth fund wrongfully backed out of a deal to redevelop London’s landmark Chelsea Barracks site after the plan was opposed by Prince Charles, a judge ruled.
The real-estate investment arm of Qatar’s sovereign-wealth fund considered ignoring opposition from Prince Charles over its plan for a London luxury apartment complex, saying the heir to England’s throne had failed to stop other developments he didn’t like.
Qatari Diar Real Estate Investment Co., a unit of the emirate’s sovereign wealth fund, is unlikely to win a suit over plans for an apartment complex at London’s Chelsea Barracks unless the emir of Qatar testifies at a trial.
Qatar’s sovereign-wealth fund is liable for at least 12 million pounds ($18 million) more in taxes on an affiliate’s purchase of the Chelsea Barracks London luxury-housing development, a U.K. tax tribunal ruled.