Development company North Point Global has today issued a statement completely refuting the unsubstantiated comments made this week in court proceedings concerning the financing of projects with which the company is associated.
Senior North Point Board member David Choules said: “The comments are completely untrue and we are committed to taking every necessary step to deal with these matters and protect the reputation and commercial interests of North Point Global.”
“It can be clearly established that all our development projects are fully funded by banks, bridging lenders and a trusted network of private overseas investors.”
“All of the companies delivering the projects are wholly transparent and open to scrutiny and have satisfied all required third party regulation in the UK and abroad. We have worked extremely hard to build a successful property business that operates with the highest standards of openness and transparency. We have built excellent working relationships with government institutions and commercial partners in the UK, Hong Kong and China.”
“North Point are delivering some of the most innovative and important development projects in the UK today, including New Chinatown which has been embraced by the UK Government as one of flagship projects for its high profile Northern Powerhouse initiative.”
“Our current projects are bringing in more than £360 million of investment into the UK, generating over £30 million in tax revenues and creating over 1,000 jobs.”
“The company is fully committed to delivering all its major development projects on time and on budget. We have always delivered on our commitments to investors and partners and will continue to do so in future.”