Norfolk entrepreneur Paul Rogers has launched a 拢1m legal battle against the UK's largest independent housebuilder. Rogers, who sold his business Premier Homes to Gladedale Group for almost 拢50m in May 2006, accuses Gladedale of failing to pay in full for the transaction. Gladedale builts about 5,000 new homes a year and has a turnover of 拢500m.
Rogers says when he agreed to sell Premier Homes to Gladedale, he was promised a deferred consideration of 拢1,350,000 on 2 November 2008.
But he accuses Gladedale of breaching the agreement by failing to pay the deferred consideration, despite a solicitor's letter sent last November.
Rogers says that as part of the agreement, he was to pay Premier Homes (Anglia) 拢146,278 for a site at Common Lane in Norwich, and he is asking for this to be deducted form the amount he claims is due to him.
Rogers is now demanding payment of 拢1,203,722, as well as interest of 拢198,756, and continuing interest of 拢211 a day.
