David Rowland (property developer)

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David Rowland
Born David John Rowland
(1945-06-16) 16 June 1945 (age 69)[citation needed]
Nationality British
Known for property developer, appointment as Conservative Party Treasurer

David Rowland (born 1945) is a British property developer.

Property career[edit]

Rowland took over other groups, issuing shares in his own company to pay for acquisitions. Eventually he sold his stake in Fordham for £2.4m in 1970, and moved to France.

In 1988, Rowland helped fund a lawyer, David Duff, in a takeover of Edinburgh Hibernian, parent company of Scottish Premier Division football club Hibernian. Eventually the company went into receivership.[1]

In 1991, Rowland sold his controlling interest to Nycal Corporation.[2] Over the following years, Gulf resorted to the American courts to recover company monies they alleged were spent by David Rowland, firstly via the courts[3] and then via their insurance company.[4] One case was settled (though no financial settlement was deemed necessary), while Gulf lost another.

In 2009, Kaupthing Bank, affected by the global liquidity squeeze was divided into two entities, a ‘good, healthy’ bank and a ‘bad’ bank. David Rowland and his son Jonathan, via their investment company Blackfish Capital, acquired and recapitalized the former and now manage the assets, on behalf of the interbank creditors, of the latter.[5]

Conservative Party[edit]

In the year before the 2010 United Kingdom general election, Rowland donated £2.8m to the Conservative Party, making him the party’s major donor.[6] In 2010 he was announced as being the next Treasurer of the Conservative Party. After this announcement, the Daily Mail published a series of articles that were critical of him.[6] After public criticism of his former status as a tax exile, Rowland resigned before taking the position.[7] Rowland had lived in Guernsey, but returned to full United Kingdom residency in order to make donations to the Conservatives.[7] Electoral law in the United Kingdom prohibits foreign donations to political parties.[7][6] In August 2010, Rowland made another donation of £1 million to the Conservative Party.[8]

References[edit]

  1. ^ "Hibs chairman’s revolution ended in club being open to hostile bid". Sport.scotsman.com. Retrieved 25 July 2013. 
  2. ^ "Washington Business Journal - Nycal tries to swallow firm 8 times its size". Accessmylibrary.com. 3 June 1991. Retrieved 25 July 2013. 
  3. ^ "Gulf USA vs. David Rowland 1997/8". Romingerlegal.com. Retrieved 25 July 2013. 
  4. ^ "Gulf USA vs. Federal Insurance 2001". Ftp.resource.org. Retrieved 25 July 2013. 
  5. ^ Ruddick, Graham (13 July 2009). "Rowland family open new bank". London: The Telegraph. Retrieved 25 July 2013. 
  6. ^ a b c Paul Lewis and Rob Evans (20 August 2010). "David Rowland: Multimillionaire who courted controversy throughout his rise | Politics". London: The Guardian. Retrieved 25 July 2013. 
  7. ^ a b c Allegra Stratton and Haroon Siddique (19 August 2010). "David Rowland: red faces at Tory HQ as next treasurer quits | Politics". London: The Guardian. Retrieved 25 July 2013. 
  8. ^ The Time – David Rowland gives more than 1m to Conservative Party – 27 August 2010

External links[edit]