Carlyle wins day in court

The US private equity firm succeeded in forcing the completion of a deal by Irish group, Menolly Investments, to buy a large central London development.

Washington D.C. based private equity firm, The Carlyle Group, has reportedly won a high court case forcing Irish firm Menolly Investments to complete on the £150m million purchase of a city development in London.

Menolly hoped not to complete the deal to acquire office project 107 Cheapside by challenging a disputed certificate of practical completion. However, the High Court ruled today that the latest in a series of certficates was valid.

Menolly has been denied the opportunity to appeal.

Carlyle agreed to forward sell the office development in December 2006.