Norfolk entrepreneur Paul Rogers has launched a £1m legal battle against the UK's largest independent housebuilder. Rogers, who sold his business Premier Homes to Gladedale Group for almost £50m in May 2006, accuses Gladedale of failing to pay in full for the transaction. Gladedale builts about 5,000 new homes a year and has a turnover of £500m.
Rogers says when he agreed to sell Premier Homes to Gladedale, he was promised a deferred consideration of £1,350,000 on 2 November 2008.
But he accuses Gladedale of breaching the agreement by failing to pay the deferred consideration, despite a solicitor's letter sent last November.
Rogers says that as part of the agreement, he was to pay Premier Homes (Anglia) £146,278 for a site at Common Lane in Norwich, and he is asking for this to be deducted form the amount he claims is due to him.
Rogers is now demanding payment of £1,203,722, as well as interest of £198,756, and continuing interest of £211 a day.
