Latest news with #LRCH
The Sun
20-05-2025
- Business
- The Sun
New plans for 8,000-seat stadium, hotel & thousands of homes next to site of disastrous ‘£3.5bn British Disneyland'
BRITS were thrilled to learn of plans for a new 8,000-seat stadium, hotel and thousands of homes next to the failed £3.5billion UK Disneyland. London Resort was first announced back in 2012, with plans to build on the Swanscombe Peninsula in Kent. 9 9 However, the theme park ran into a number of problems over the years, including the site being designated an SSSI for nationally important invertebrates, breeding birds and plants. And in January earlier this year, a High Court judge ordered London Resort Company Holdings (LRCH) into liquidation. But, just stone's throw away from the imagined theme park, there are plans for a new major development. As reported by The Times, the Northfleet Harbourside project would see 3,500 houses, and 8,000 seater stadium for Ebbsfleet United, hotel and retail sites. The developers say it will create a brand new community and 3,000 jobs. Plans have been met with mixed reaction, with some hailing the proposals for the prospect of more wealth injected into the area. Others are concerned about how small local businesses with fare if they are edged out of their industrial sites. Despite objection, the developers were given the go ahead in February last year. The public inquiry stage began today, and it was understood fears were raised over several issues. A primary worry was the fact that the failed £3.5billion Disneyland and the Northfleet Harbourside project were linked through Abdulla al-Humaidi. New theme world at paulton's park Mr al-Humaidi was the businessman who ran the failed Dartford attraction until he was made bankrupt in November 2023. However the London Resort Company, which was headed by Mr al-Humaidi, say he is now no longer involved with the new plans. The Dartford Disneyland was supposed to welcome visitors last year, with funding from Paramount. But Paramount, which is owed £13.5 million, claimed in legal action that Mr al-Humaidi had been convicted of fraud several times in Kuwait. 9 9 9 Mr al-Humaidi argued all convictions had been overturned on appeal. The controversial businessman was hit with a three-year-prison sentence in absentia for one outstanding conviction - which he said he will appeal. Artist's impressions promised at least six roller coasters, themed fantasy lands and even a giant fairytale-style castle, all squeezed onto a peninsular jutting into the Thames Estuary. Partnerships were even announced with Aardman Animation - the team behind Wallace and Gromit - and the BBC, with hopes for Doctor Who and Top Gear -themed rides. It was to be surrounded by 3,500 rooms in plush hotels, swanky restaurants, and even two brand new ferry terminals, bringing hope that the project could sustain 33,000 local jobs. To say that the £2.5billion plans were ambitious would be an understatement. But after being announced in 2012, the theme park became bogged down in a planning and legal quagmire that dragged on for thirteen years. The fact the area was declared as a site of special scientific interest further halted operations. And despite the magical promises from CGI mockups and developers, for people in the area the saga has been anything but a fairytale. Mr Al-Humaidi, said the park had 'destroyed' his life and "ruined" his reputation. Timeline of London Resort October 2012 - The London Resort is announced as London Paramount Entertainment Resort, to open in 2019 April 2013 - Discussion over development after discovery of a rare species of spider May 2014 - London Paramount Entertainment Resort granted Nationally Significant Infrastructure Project status December 2014 - Partnership with BBC Worldwide announced March 2015 - Partnership with Aardman Animation and BFI announced September 2015 - Opening date pushed back to 2021 November 2016 - Waterpark plans scrapped, opening date pushed to 2022 June 2017 - Paramount pulls out, with park renamed as The London Resort September 2017 - Opening date pushed back to 2023, with estimated costs rising to £3.5billion November 2018 - Opening date pushed back to 2024 April 2019 - Partnership with ITV Studios announced. November 2021 - Natural England designates the area as a SSSI for nationally important invertebrates, breeding birds, plants and geology March 2022 - Resort application is withdrawn March 2023 - London Resort Company Holdings goes into administration April 2023 - A Company Voluntary Arrangement (CVA) is agreed on May 2023 - The transfer of a plot of land, considered a material change, occurred without prior notice to the CVA supervisor June 2024 - Swanscombe Development LLP, the land for The London Resort, is listed for sale October 2024 - Paramount tells the High Court that LRCH had not adhered to their obligations under the CVA December 2024 - The judgement is published New Year 2025: Further High Court hearings are scheduled to decide the fate of London Resort January 2025: A court hearing will determine whether LRCH can enter administration The London Resort had been designated a NSIP - a Nationally Significant Infrastructure Project. To proceed, it needed to secure what's known as a Development Consent Order (DCO). But just a day before years of preparation were due to begin to be presented before planners, in March 2022, London Resort dramatically withdrew the plans, citing environmental and transport issues. LRCH had limped on ever since - regularly promising to resubmit its plans - but with no real progress made. The NSIP status - which is listed on the Planning Inspectorate website as applying to LRCH - is likely to die with the company, lifting the cloud of uncertainty which has hung over businesses on the peninsula in recent years. The judge's decision coincided with the Planning Inspectorate awarding legal costs to a host of companies which had conducted work ahead of the DCO bid, before it was shelved, due to LRCH's 'unreasonable behaviour'. It said the withdrawal of the DCO was made 'without sound reason, and exceptional circumstances have not been demonstrated'. These included the likes of the Kent Wildlife Trust, Bugs Life, National Highways, Network Rail and a joint submission by Kent County Council, Dartford Borough Council and Ebbsfleet Development Corporation. LRCH has also been told to pay costs to Merlin Entertainments, a rival theme park operator and the company behind the likes of Chessington World of Adventures and Thorpe Park. It had opposed the plans. Now an Irish company called Landmarque Property Group has taken over managing the Northfleet Harbourside project. Landmarque is owned by Sierra Investments, which was controlled by Mr al-Humaidi from 2018 to November 2023. Ebbsfleet United, which is also controlled by al-Humaidi's family, is in partnership with Landmarque. Gravesham council has said the development was being delivered 'in partnership between Landmarque and Ebbsfleet United'. In a statement, NC1 said: 'This project has the support of the community, Gravesham council and Ebbsfleet United supporters. It is opposed by a small number of organisations with a commercial interest. 'We look forward to the planning inquiry and getting on with investing into the local community.' COMMUNITY CONCERNS Kent Invicta Chamber of Commerce fears the Northfleet Harbourside development could jeopardise over 40 companies that are already established on the site. The director of CPP-LM, which has ran for nearly 50 years, said it could be the end of their manufacturing business. Sam Youseman told The Times: 'Moving is a cost in the six figures. If we are forced too far away, our trained staff won't be able to move with us. "The impact is massive. If we are facing a compulsory purchase order here, it is a potentially business-ending level of disruption." The 35-year-old said a "functioning industrial estate" would at stake. 'I can't blame the developers for wanting to make money. But there is no reason their commercial interests should trump those of the companies who have been on this estate for years," he added. 9 9 9
Yahoo
18-04-2025
- Business
- Yahoo
Revealed: ‘Dartford Disneyland' boss's string of fraud convictions
The bankrupt businessman behind the doomed 'Dartford Disneyland' has a string of criminal convictions for fraud and been accused of money laundering, it can be revealed. Abdulla Al-Humaidi, a Kuwaiti businessman based in London, was convicted in Kuwait of at least nine offences involving cheques that bounced, legal documents show. The total fraud amounted to over £21m. Al-Humaidi was sentenced to seven terms of three years in jail and two terms of two years, suggesting that he risked 25 years in prison if he returned to Kuwait. He said the 'sentences are reversible and misdemeanours, and the majority have been paid and quashed'. Kuwaiti court judgments support this claim. However, he accepted that he was the subject of a fraud charge brought against him in Kuwait in 2021 that was being contested by his lawyers. A judgment in that case claimed Al-Humaidi's family investment business had 'been subject to many fraudulent cases, [and] carried out money laundering operations'. Details were not given. The convictions and allegations have come to light in a legal battle over the fallout from the collapsed 'Dartford Disneyland', an ill-fated attempt to build a £3.5bn theme park near the Thames in Ebbsfleet. The project was set up over a decade ago and overseen by London Resort Company Holdings (LRCH), of which Al-Humaidi was the majority owner. The resort initially had the backing of Hollywood's Paramount Studios and Al-Humaidi hoped to build attractions based on classic films including The Godfather, aiming to rival the likes of Disneyland Paris. However, the project was plagued by setbacks, including the discovery of a rare spider that hampered development efforts. Administrators were ultimately called in two years ago and Al-Humaidi was declared bankrupt in London's High Court shortly after. LRCH was liquidated last month, leaving a trail of creditors owed an estimated £105m. Al-Humaidi said the theme park collapsed because 'the costs of the project exceeded the estimate provided to me'. The land earmarked for development was designated a Site of Significant Interest by Natural England seven years after the scheme was announced. 'This designation put multiple hurdles in the planning process, which delayed the development of the land and increased the costs of the land exponentially,' Al-Humaidi told The Telegraph. 'I invested a huge amount into this project, both personally and financially, which led to my bankruptcy.' Declared personally bankrupt by a UK court in November 2023, Al-Humaidi is currently facing forced bankruptcy. Lawyers acting for creditors have petitioned the court to extend the length of Al-Humaidi's bankruptcy, arguing that he has not fulfilled his obligations. Peter Shaw KC, acting for the bankruptcy trustees, claimed in court: 'Every request to evaluate the value of his assets and shares of his companies has been resisted.' Lawyers for Al-Humaidi insisted that he 'promptly provided answers to every question. There are limits to which documents are entitled'. However, Judge Prentis ruled that Al-Humaidi had not offered 'full cooperation with the trustees' and last week granted an extension of the bankruptcy terms until Nov 6. The judge noted the Kuwaiti tycoon's stated monthly income was only £2,000 and yet he has been living in a rented luxury apartment on Ebury Street, Belgravia, central London. 'This is inconsistent for someone leading the lifestyle he seems to live,' he said. Al-Humaidi also failed to provide receipts for his business expenses and income paid into his bank account when the balance became low, the judge noted. 'There are significant assets that require investigation,' he concluded. Separately, Paramount has sued LRCH for £13.5m over unpaid debts and alleged in its legal claim that the company 'ceased to trade and is now disposing of its assets to put them out of reach of the creditors'. Despite being an undischarged bankrupt, Al-Humaidi instructed solicitors when Paramount sought to have LRCH placed into liquidation. Solicitors from law firm Judge Sykes Frixou involved in the case ultimately withdrew after the judge hearing the case pointed out it was a criminal offence for an undischarged bankrupt to be involved with the management of a business without the court's permission. Al-Humaidi is currently being advised by lawyers who specialise in insolvency cases. He refused to comment on his personal bankruptcy or the situation facing the creditors of LRCH. The Kuwaiti arrived in the UK in 2014 with promises of significant investment, winning the backing of ministers and government grants. Al-Humaidi's investment in the 'Dartford Disneyland' project came after he rescued nearby non-league football club Ebbsfleet United. He first invested in LRCH in 2013 and four years later was joined on the board by his brother Dherar Al-Humaidi. Lord Norris, a former Conservative transport minister and candidate for mayor of London, became chairman of LRCH. The late Formula 1 team owner Eddie Jordan also joined the board of one of Al-Humaidi's companies. The Kuwaiti tycoon set up London Resort despite being found guilty of multiple frauds in his native country between December 2018 and August 2021, according to court filings seen by The Telegraph. The documents state Al-Humaidi was convicted of at least nine offences involving the issuing of cheques to third parties that were later not honoured by his bank because of a lack of funds or account closure. When asked about the prison sentences, Al-Humaidi told The Telegraph: 'The convictions to which you refer are reversible judgments on payment of the outstanding amount and [are] not considered fraud and classified as misdemeanours. 'These sentences are reversible and misdemeanours, and the majority have been paid and quashed. This is a simple procedural matter and not equivalent to a criminal conviction in the UK.' In 2021, while Al-Humaidi managed UK investment companies and owned Ebbsfleet United, he was also found guilty by the Kuwaiti court of fraudulently selling a plot of land in the UK to a Kuwaiti company for £4.2m. When asked about this conviction, Al-Humaidi acknowledged the judgment, but said: 'This relates to a contracted land deal between me and an individual in Kuwait to purchase land in Kent for the building of housing. The land deal was properly executed in accordance with the law of England. 'Unfortunately, the Kuwaiti courts did not admit the Land Registry documents as evidence due to different and non-comparable forms of ownership in the two countries. There is no equivalent of the Land Registry in Kuwait.' The Kuwait judgment also stated that in February 2015, soon after his move to the UK, a police investigation established that £4.2m was paid into the bank accounts of Al-Humaidi's holding company, Kuwait European Holding, and to Ebbsfleet FC. 'Several arrest warrants, travel bans and prison sentences have been issued against him,' the judgment stated. 'And he has been convicted in similar cases of fraud and deception. 'It was found he always deludes his clients into investing their money in fictitious projects with the aims of stealing their money.' Mr Al Humaidi said he had successfully appealed against this conviction. While Al-Humaidi resigned as chairman of Ebbsfleet United FC, the club remains under family control. His brother, Dherar, is a director. Supporters of Ebbsfleet, which were recently relegated from the National League, await the publication of the club's new accounts next month. The most recent accounts, signed off by Dherar Al-Humaidi, revealed losses of £3.2m. The contentious fallout from the collapse of the London Resort theme park may serve as a cautionary tale for Sir Keir Starmer, who last week announced the development of 'Europe's biggest theme park' in Bedford, overseen by Universal Studios. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
18-04-2025
- Business
- Telegraph
Revealed: ‘Dartford Disneyland' boss's string of fraud convictions
The bankrupt businessman behind the doomed 'Dartford Disneyland' has a string of criminal convictions for fraud and been accused of money laundering, it can be revealed. Abdulla Al-Humaidi, a Kuwaiti businessman based in London, was convicted in Kuwait of at least nine offences involving cheques that bounced, legal documents show. The total fraud amounted to over £21m. Al-Humaidi was sentenced to seven terms of three years in jail and two terms of two years, suggesting that he risked 25 years in prison if he returned to Kuwait. He said the 'sentences are reversible and misdemeanours, and the majority have been paid and quashed'. Kuwaiti court judgments support this claim. However, he accepted that he was the subject of a fraud charge brought against him in Kuwait in 2021 that was being contested by his lawyers. A judgment in that case claimed Al-Humaidi's family investment business had 'been subject to many fraudulent cases, [and] carried out money laundering operations'. Details were not given. The convictions and allegations have come to light in a legal battle over the fallout from the collapsed 'Dartford Disneyland', an ill-fated attempt to build a £3.5bn theme park near the Thames in Ebbsfleet. The project was set up over a decade ago and overseen by London Resort Company Holdings (LRCH), of which Al-Humaidi was the majority owner. The resort initially had the backing of Hollywood's Paramount Studios and Al-Humaidi hoped to build attractions based on classic films including The Godfather, aiming to rival the likes of Disneyland Paris. However, the project was plagued by setbacks, including the discovery of a rare spider that hampered development efforts. Administrators were ultimately called in two years ago and Al-Humaidi was declared bankrupt in London's High Court shortly after. LRCH was liquidated last month, leaving a trail of creditors owed an estimated £105m. Al-Humaidi said the theme park collapsed because 'the costs of the project exceeded the estimate provided to me'. The land earmarked for development was designated a Site of Significant Interest by Natural England seven years after the scheme was announced. 'This designation put multiple hurdles in the planning process, which delayed the development of the land and increased the costs of the land exponentially,' Al-Humaidi told The Telegraph. 'I invested a huge amount into this project, both personally and financially, which led to my bankruptcy.' Declared personally bankrupt by a UK court in November 2023, Al-Humaidi is currently facing forced bankruptcy. Lawyers acting for creditors have petitioned the court to extend the length of Al-Humaidi's bankruptcy, arguing that he has not fulfilled his obligations. Peter Shaw KC, acting for the bankruptcy trustees, claimed in court: 'Every request to evaluate the value of his assets and shares of his companies has been resisted.' Lawyers for Al-Humaidi insisted that he 'promptly provided answers to every question. There are limits to which documents are entitled'. However, Judge Prentis ruled that Al-Humaidi had not offered 'full cooperation with the trustees' and last week granted an extension of the bankruptcy terms until Nov 6. The judge noted the Kuwaiti tycoon's stated monthly income was only £2,000 and yet he has been living in a rented luxury apartment on Ebury Street, Belgravia, central London. 'This is inconsistent for someone leading the lifestyle he seems to live,' he said. Al-Humaidi also failed to provide receipts for his business expenses and income paid into his bank account when the balance became low, the judge noted. 'There are significant assets that require investigation,' he concluded. Paramount sues Separately, Paramount has sued LRCH for £13.5m over unpaid debts and alleged in its legal claim that the company 'ceased to trade and is now disposing of its assets to put them out of reach of the creditors'. Despite being an undischarged bankrupt, Al-Humaidi instructed solicitors when Paramount sought to have LRCH placed into liquidation. Solicitors from law firm Judge Sykes Frixou involved in the case ultimately withdrew after the judge hearing the case pointed out it was a criminal offence for an undischarged bankrupt to be involved with the management of a business without the court's permission. Al-Humaidi is currently being advised by lawyers who specialise in insolvency cases. He refused to comment on his personal bankruptcy or the situation facing the creditors of LRCH. The Kuwaiti arrived in the UK in 2014 with promises of significant investment, winning the backing of ministers and government grants. Al-Humaidi's investment in the 'Dartford Disneyland' project came after he rescued nearby non-league football club Ebbsfleet United. He first invested in LRCH in 2013 and four years later was joined on the board by his brother Dherar Al-Humaidi. Lord Norris, a former Conservative transport minister and candidate for mayor of London, became chairman of LRCH. The late Formula 1 team owner Eddie Jordan also joined the board of one of Al-Humaidi's companies. The Kuwaiti tycoon set up London Resort despite being found guilty of multiple frauds in his native country between December 2018 and August 2021, according to court filings seen by The Telegraph. The documents state Al-Humaidi was convicted of at least nine offences involving the issuing of cheques to third parties that were later not honoured by his bank because of a lack of funds or account closure. When asked about the prison sentences, Al-Humaidi told The Telegraph: 'The convictions to which you refer are reversible judgments on payment of the outstanding amount and [are] not considered fraud and classified as misdemeanours. 'These sentences are reversible and misdemeanours, and the majority have been paid and quashed. This is a simple procedural matter and not equivalent to a criminal conviction in the UK.' In 2021, while Al-Humaidi managed UK investment companies and owned Ebbsfleet United, he was also found guilty by the Kuwaiti court of fraudulently selling a plot of land in the UK to a Kuwaiti company for £4.2m. When asked about this conviction, Al-Humaidi acknowledged the judgment, but said: 'This relates to a contracted land deal between me and an individual in Kuwait to purchase land in Kent for the building of housing. The land deal was properly executed in accordance with the law of England. 'Unfortunately, the Kuwaiti courts did not admit the Land Registry documents as evidence due to different and non-comparable forms of ownership in the two countries. There is no equivalent of the Land Registry in Kuwait.' The Kuwait judgment also stated that in February 2015, soon after his move to the UK, a police investigation established that £4.2m was paid into the bank accounts of Al-Humaidi's holding company, Kuwait European Holding, and to Ebbsfleet FC. 'Several arrest warrants, travel bans and prison sentences have been issued against him,' the judgment stated. 'And he has been convicted in similar cases of fraud and deception. 'It was found he always deludes his clients into investing their money in fictitious projects with the aims of stealing their money.' Mr Al Humaidi said he had successfully appealed against this conviction. While Al-Humaidi resigned as chairman of Ebbsfleet United FC, the club remains under family control. His brother, Dherar, is a director. Supporters of Ebbsfleet, which were recently relegated from the National League, await the publication of the club's new accounts next month. The most recent accounts, signed off by Dherar Al-Humaidi, revealed losses of £3.2m. The contentious fallout from the collapse of the London Resort theme park may serve as a cautionary tale for Sir Keir Starmer, who last week announced the development of 'Europe's biggest theme park' in Bedford, overseen by Universal Studios.
