Collapsed Crowdfunder Lendy Sues Developer For £7M – Law360

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Law360, London (August 20, 2021, 3:27 PM BST) — Defunct crowdfunder Lendy is suing the head of a property firm for just over £7 million ($9.5 million) after the developer allegedly failed to pay back loans that he had personally guaranteed.

Peer-to-peer property lending firm Lendy Ltd., which is now in administration after facing an investigation from the financial watchdog, told the High Court in a claim — dated Aug. 3 but now public — that Anthony Canning should be forced to pay back two loans he personally backed but has defaulted on.

Canning, director of a property firm called Lodge Inns Ltd., which is also defunct, took out two loans,…

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Read More:Collapsed Crowdfunder Lendy Sues Developer For £7M – Law360