LONDON: Muttahida Qaumi Movement MQM founder Altaf Hussain has lost multiple properties in a legal fight with former loyalists in a UK high court, a segment of Pakistani media reported on Monday.
Altaf, who is living in exile in Britain for decades, lost his London properties case to MQM-Pakistan (MQM-P) leaders after a series of hearings as his ex-allies claimed properties to the tune of 10 million sterlings.
The case, which continued for years, was brought by MQM-P leader Syed Aminul Haque.
The British court remarked that Muttahida Qaumi Movement-Pakistan is the real party and its current members are the real beneficiaries of the trusts which managed these properties. In its verdict, Insolvency and Companies Judge Clive Jones ruled that in August 2016 Altaf Hussain stepped down from any role with MQM-Pakistan.
In their argument, MQM-Pakistan leaders maintained that Altaf Hussain had no leadership role in party for the last seven years.
It was believed that If Altaf loses the legal tussle; the controversial politician will be left with nothing.
During the proceedings, he apprised the court that the properties were purchased with the use of funds given by MQM stalwarts and workers. Hussain, who keeps a low profile, was spotted in previous court hearings recording evidence in the case but now faced a huge blow as he is going through a financial crunch.
