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ALLERDALE CASE IN FINAL PHASE

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The marathon legal battle between Allerdale DC and merchant bank Credit Suisse over the council's failed timeshare ...
The marathon legal battle between Allerdale DC and merchant bank Credit Suisse over the council's failed timeshare and leisure development is entering its final phase.

The bank is claiming more than £5 million from the council because it underwrote a loan for the development taken out in 1986 by Allerdale Development Company Ltd, wholly owned by the council.

The council claims it had no power to make the loan guarantees so the bank cannot enforce them. The two sides are expected to complete their final submissions to the high court today.
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