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Lloyds chases 700 mln in Kenmore investments

Source: Reuters - Fri 13th Nov 2009

Lloyds Banking Group has more than 700 million pounds ($1.2 billion) of debts and investments tied up in Kenmore Property, the Times newspaper reported on Friday.

UK-based real estate investor Kenmore Property Group has placed 21 companies within the group into administration, and two others into receivership, administrator Grant Thornton said on Thursday.

HBOS Plc, now part of Lloyds, is understood to have pumped at least 700 million pounds in loans and equity investments into Kenmore and its funds, the Times said, without citing any sources.

The bank declined to comment, the newspaper reported. Calls from Reuters to Lloyds' press office after business hours were not answered early on Friday.

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