A property company controlled by the private equity tycoon Guy Hands has started a court battle to block the reversal of the highly controversial privatisation of thousands of military homes now worth as much as £8bn.
Annington Property launched a judicial review on Monday in London’s high court, arguing that the Ministry of Defence does not have the right to take back ownership of the properties because the company has not consented and the state was exercising its power improperly. Annington is owned by Terra Firma, the private equity firm run by Hands.
