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When it came the letter informed them HAB was exercising its own right to defer their early repayment a further six months - to October 2, But then last month the company wrote to propose a restructuring which would prevent any investor receiving an interest payment or cashing out any money until at the earliest. The company also warned investors: 'After final completion of the projects It means investors stand to lose between 74 per cent and 97 per cent of their capital.
The Tilsons challenged the company's announcement but have had no reply. Building businesses founded by the Grand Designs star pictured have found themselves in catastrophic trouble and have written down the value of millions of pounds worth of small investors' money.
Grand Designs presenter Kevin McCloud has said he will do 'everything in my power' to 'resolve the current situation'. HAB artist's impression of planned development, pictured said it was set up to challenge the way identikit volume housing was built in the UK'. A spokesman for HAB Land said investors had received their interest payments in January and January , and that 'as of today we are not aware of any minibond holder who is overdue on a minibond redemption'.
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He said: 'The Directors cannot comment on the actions of previous Directors. According to Companies House the makeup of the board of directors of HAB Land Ltd has not changed since one resignation on July 2 - a month before Mr and Mrs Tilson received the letter from the board notifying them of the intended restructuring. Have you been affected?
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