There is not a great deal new in a Times story on Simon Halabi this morning. But the paper has found a flattering picture of the man whose property empire has unravelled.
Ask Irvine Sellar. He sold a one-third stake in the Shard to Halabi - and then battled for a legal separation.
Ask Societie General. The French bank lent Halabi £330m to buy the Esporta health club chain - which went into administration last year.
Ask Aukett Fitzroy Robinson. The architects of a six-star hotel at the old In and Out Club on Piccadilly were counter-sued after suing Halabi for unpaid fees.
Current attention is on the sale of six Halabi properties now in the hands of the administrators and CBRE. These include the Aviva tower and the JP Morgan offices on London Wall. A value of £1.8bn was put on the portfolio when Halabi first announced a sale in September 2006. If only he had sold then, Halabi might not be selling the old In and Out Club now.
How will the sales go? The JP Morgan offices are a tough sell; the bank is off to Canary wharf. The other five blocks are an easier sell. Agent David Martin, of CBRE, tells the Times that "now is as good a time as ever". Indeed. But JLL have got a much harder sell with the In and Out Club. The guide price of £250m for a derelict site bought in 2000 for £50m with planning for a 160 000 sq ft hotel is pushing it a bit. But then Halabi always has done.
I worked for this old boy for five years.As far as I am concernd he and many others lack the basic skills of judgement on the markets and just try and make money out of incompetent fools.I told this man two years ago to sort him self out. But he left it to late. So now it is his own doing. Perhaps he will listen next time instead of smirking at me. Just look at the markets and what is happening on the streets.My respect to you Mr H