Vincent Tchenguiz prepares legal action against Hilton in hotel dispute

 
Alys Key
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Vincent Tchenguiz Arrives At The Royal Courts Of Justice
Tchenguiz (left, with sister Lisa) has previously won battles with the SFO and Kaupthing (Source: Getty)

Property mogul Vincent Tchenguiz is preparing for yet another legal battle, this time with the Hilton hotels group.

The tycoon is well-known for his court battles with the Serious Fraud Office over a botched investigation and a subsequent £2.2bn legal wrangle with Iceland's Kaupthing.

Now he is challenging Hilton over 10 sites which he owned and leased back to the company which have now fallen into administration.

The string of hotels, which include the Hilton in Kensington, were put up for sale last year for an estimated £600m. But a sale never took place, prompting lenders to put the hotels into administration.

Today the Sunday Times reported that Tchenguiz sent a pre-action letter sent to Hilton and two hedge funds on Friday.

He accuses Hilton of frustrating the sales process in the hope of buying back the sites at a cut price.

Hedge funds Fortress and Hayfin have also become caught up in the dispute, due to Tchenguiz's belief that they provided confidential information about financing arrangements to Hilton.

Many of the sites are believed to have deteriorated, with Tchenguiz previously accusing Hilton of breaching the leases due to the poor condition of the hotels.

A spokesperson for Vincent Tchenguiz declined to comment. A representative of Hilton said they could not comment on pending litigation.

Read more: Vincent Tchenguiz is getting a new superyacht - but not in time for Mipim

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