Supreme Court judges have delivered another twist in the 12-year legal wrangle over the Letham Grange golf resort.
In a televised ruling on Wednesday, a panel of judges overturned an earlier Court of Session decision and issued an ownership determination in favour of family companies of Taiwanese businessman Peter Liu for the one-time luxury hotel and its two golf courses.
The Supreme Court ruling affirms a judgment made by Lord Glennie more than three years ago, but subsequently overturned.
However, with the complex in liquidation since 2009, a major question mark continues to remain over the long-term future of the entire resort, at which the golf courses continue to enjoy a booming membership.
As Mr Liu’s solicitor said the businessman welcomed the Supreme Court’s decision, Letham Grange Golf Club issued a “business as usual” message in regard to the Old and Glens courses, which they have a licence to run until next year.
The Supreme Court appeal was brought by Foxworth Investments Ltd and Nova Scotia Ltd against liquidator Matthew Henderson and heard in May.
Justices Lords Kerr, Sumption, Reed, Carnwath and Toulson issued the determination yesterday over the complex once dubbed the ‘Augusta of Angus’.
David Halliday, a partner in theEdinburgh-based firm of HallidayCampbell which represents the Taiwanese businessman, said: “I have not yet been able to speak with Mr Liu about the decision that the Supreme Court issued this morning.
“However, I know that he will be very pleased that it affirms the decision in his favour given by Lord Glennie more than three years ago.”
A spokesperson for Letham Grange Golf Club said: “After 12 years of uncertainty and legal disputes, we had hoped that this appeal would finally bring clarity and an end to the challenges over the ownership of the hotel and golf courses.
“In finding in favour of Mr Liu’sfamily’s companies, the UK Supreme Court Justices appear to have left the ownership issue unresolved.
“As we understand the situation following this judgment, which is complicated, Foxworth Investments hold a valid standard security over the hotel and golf courses, this security having been granted to them in 2003 by Nova Scotia Ltd, irrespective of the fact that Nova Scotia is not now the owner of these properties, having lost them to the liquidator in an earlier legal action in 2009,” he said.
The spokesman added: “It is now for the liquidator, the present owners and Mr Liu to resolve this matter to which the golf club is not a party.
“As far as we are concerned, in the short term nothing changes as a result of this outcome. We still have a licence to operate the golf courses from the hotel’s owners through to February 2015 and will continue to do so until instructed otherwise.”