Sofa designer and her husband sue neighbour for £770,000 over six-figure loan he never paid back

A millionaire luxurious couch designer is suing her pal and neighbour for greater than £770,000 in a bitter dispute over a mortgage she gave him that he by no means paid again.

Ginny Avison and her husband Andrew had been good associates with Glenrick White again in 2014 when he requested them to lend him £210,000 for a multi-million-pound funding within the Caribbean.

Mr White, who lives within the subsequent road to the Avison’s picturesque townhouse in Worthing, West Sussex, mentioned he solely wanted the cash for 60 days to show that he had the funds, and agreed to pay £700-a-day curiosity over the time period.

The 61-year-old entrepreneur promised to repay the mortgage plus the 20% curiosity of £42,000 by 31 December 2014. But eight years later, the Avisons haven’t seen a penny.

Ginny and Andrew Avison are suing their friend and neighbour for £770,000 after not being paid back a loan of £210,000

Ginny and Andrew Avison are suing their pal and neighbour for £770,000 after not being paid again a mortgage of £210,000

Glenrick White asked to borrow £210,000 in 2014 to prove he had the funds for a multi-million-pound investment in the Caribbean

Glenrick White requested to borrow £210,000 in 2014 to show he had the funds for a multi-million-pound funding within the Caribbean 

In February, they took Mr White to court docket claiming they had been now owed an eye-watering £1,794,100, having continued so as to add curiosity at 20% each 60 days.

But the decide dominated the phrases of the chums’ association was unclear on what would occur if the mortgage wasn’t repaid on time and he mentioned the rate of interest must be 8.5% a yr slightly than the 122% claimed by the couple, lowering the curiosity owed to £483,581.

Before relations grew to become frosty, Mr White, who hung out with the Avisons over Christmas 2014, admitted the mortgage wouldn’t be repaid in time, insisting the debt could be settled sooner or later.

Ginny and Andrew Avison continued to socialize with Mr White and his household and mentioned tips on how to repay the mortgage at a gathering at a Costa Coffee in Worthing in November 2015.

However, because the curiosity on the unpaid mortgage started to escalate the 2 households fell out and each events took authorized recommendation.

At the High Court listening to in London in February, the decide mentioned Mr White wanted the mortgage to point out worldwide financiers that he had 5 per cent of the £11.55 million challenge finances – £578,000 – to arrange a biomass pellet enterprise in Guyana.

The Avisons would make a ‘quick and handsome profit’ if the mortgage had been repaid as envisaged, he mentioned.

Deputy Judge Stephen Houseman discovered that Mr White had tried to ‘keep the Avisons sweet’ for so long as doable and solid a collection of letters from a supposed enterprise affiliate named Titus Van Heur to hide the reality.

The decide dominated Mr White ought to repay £294,000 from the preliminary mortgage and curiosity at 8.5% from January 1 2015, bringing the whole debt to £777,581.

Mr White wanted the mortgage to point out worldwide financiers that he had 5 per cent of the £11.55 million challenge finances – £578,000 – to arrange a biomass pellet enterprise in Guyana

Mrs Avison said that once they retired they were hoping for a less stressful lifestyle but, 'the case is still not settled and it has been very stressful

Mrs Avison mentioned that after they retired they had been hoping for a much less irritating way of life however, ‘the case continues to be not settled and it has been very irritating

But regardless of 4 court docket hearings the dispute with Mr White and his former enterprise associate Claudia Emmanuel continues.

The subsequent showdown is due in a County Court in West Sussex, though the venue and date are but to be set.

The Avisons have been compelled to promote their five-bedroom beach-front household house in Worthing in 2017 for £790,000 to pay attorneys’ charges.

The couple had labored collectively for over 20 years making a lot sought-after high-quality upholstery at their manufacturing facility in west London.

Their vibrant patterned sofas promote for greater than £5,000 and their armchairs price over £2,500.

They retired to Worthing within the hope of a much less irritating way of life.

Ginny Avison defined: ‘The case is still not settled. It has been very stressful.’

Mrs Avison said that they have been forced to sell their five-bedroom beach-front home in Worthing to pay lawyers' fees

Mrs Avison mentioned that they’ve been compelled to promote their five-bedroom beach-front house in Worthing to pay attorneys’ charges

Her husband Andrew added: ‘All we want is our money back. These were our life savings which were meant for our retirement.

‘We had to sell my family house on the beach-front to pay the legal fees and move into this house. We have not been able to provide the support for our grandchildren that we had wanted.’

Mr White declined to remark when approached by MailOnline.

He mentioned: ‘Why are you writing about me? Why is my case interesting?’

It was not doable to achieve his former enterprise associate Claudia Emmanuel who now lives in Barbados.