A Liverpool property company that was behind a number of stalled sites now owes buyers over 41m.
Absolute Living Developments (ALD) was behind a string of off plan residential schemes across the north west which were not delivered.
The schemes were heavily marketed toward overseas buyers many of whom lived in the Far East. But the investors began to become concerned when ALD failed to complete property schemes in Manchester and Bradford.
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Now a report by liquidators Azets has revealed that the company owes buyers 41,506, 570.85 and owes a total of 68,068,995.99 to creditors.
The report also reveals that the Official Receiver initially estimated the company’s liabilitie…
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