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The Inside Story

Category: Regular

February 25th, 2013

Pakistani Politician – Fights Deutsche Bank

Senator Waqar Ahmed Khan, one of Pakistan’s well known politicians, is fighting Deutsche’s plan to repossess six Knightsbridge flats and a house on Bishops Avenue in a bid to recoup a £50m loan. Senator Khan and four members of his family, argue that Deutsche Bank withheld £11m of an agreed loan which prevented them from developing the properties. The Khans planned to build a house that would be one of the biggest in London but they are seeking damages of around £60m from Deutsche Bank. According to court documents, the Khans bought the house in 2007 with an intention to maximise its value by demolishing the existing house situated on the site and build a new larger house within the site. The Khans say the opportunity was brought to them by Deutsche Bank private banker Nassim Ahmad, a trusted adviser and a senior banker to the Khan Family. In 2005 the Khan family bought six apartments in a luxury London development called The Knightsbridge using loans from different banks. The family says Ahmad offered them loans of over £66m to refinance their properties and move the portfolio to Deutsche Bank. The loan was agreed in August 2007 and £50m was advanced within days. In the documents, the Khans claim that Deutsche Bank is failing to advance the full amount, which it had contracted to lend, with the result that the Khan family was unable to undertake development projects which would have yielded profit. The case is expected to run for three weeks. Deutsche Bank declined to comment.

Noor Muhammad & Shah Hussain

Of late, in a sudden streak of excellence, Pakistan has been dominating the games of hockey, squash and cricket. This time, however, the Green Flag has been raised high on the peaks of skiing mountains in Pakistan. Two Pakistani skiers, Noor Muhammad and Shah Hussain, grabbed the top two positions and earned themselves a gold and silver medal respectively. Hailing from Naltar Valley, Gilgit-Baltistan, the two skiiers participated in the Dream Skiing Programme 2013 hosted by the Republic of Korea and gave the entire country a reason to rejoice. The Dream Programme was initiated by Gangwon Province in 2004 to promote winter sports in countries where winter sports facilities were not fully developed. Pakistan joined the programme in 2011. Every year more than hundreds of individuals from 40 countries participate in this competition after which athletes are divided into groups and competitions are held among them. After this glorious victory, the champions, Noor Muhammad and Shah Hussain got a chance to meet the Korean Ambassador to Pakistan Choong-joo Choi and left him speechless with their talent and passion. The president of the Ski Federation of Pakistan (SFP), Air Marshal Farhat Hussain Khan congratulated Noor Muhammad and Shah Hussain respectively at the event. He hoped that the success would significantly boost the federation’s ventures in national and international ski events.

Debris of Missing Missoni Plane found

When Vitto Missoni, CEO of Italian designer label Missoni, boarded his private jet on January 4th, 2013, he most likely imagined an
ordinary, uneventful flight. Instead, the Missoni plane was declared missing off the coast of Venezuela. Missoni’s wife and two friends were also on board the aircraft. After weeks of investigation, clues and debris from the missing jet have begun to surface. The first signs of the debris washed ashore in the Dutch Caribbean island of Curacao, an official said Tuesday. A German tourist found a bag belonging to an Italian who missed the flight that Vittorio Missoni was on when the plane vanished shortly after takeoff. A ship that specialises in deep-water searches is expected to arrive in Venezuela in February to help look for the plane. The ship belongs to an international company and was hired by Italian and Venezuelan officials.


Dame Vivienne Westwood Steps up to a new Fashion Challenge

Stunning models artfully posed in fabulous frocks against a background of decadence; the models were dancers and the purpose was to promote the English National Ballet (ENB), which has worked with fashion legend Dame Vivienne Westwood on its latest ad campaign. ENB artistic director Tamara Rojo hopes it is the first of many pas de deux with other art forms. “I am thrilled that Vivienne has agreed to let us use her clothes,” she said of the designs, which come from Dame Vivienne’s extensive archive and her spring/summer 2013 collection. “It’s a dream come true to collaborate with someone of such stature. Her designs capture the creativity and ambition of our dancers who, in turn, add drama and movement to the clothes.”

As Dame Vivienne said, “My clothes are theatrical in the sense that they give a chance to express oneself.”

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