Cevdet Caner, the man at the center of Germany’s biggest real estate insolvency in 15 years, is fighting eviction from his £20m London townhouse, complete with basement swimming pool.

His group of investment companies called Level One owes €1.5bn ($2bn) to creditors led by Credit Suisse Group, according to estimates by the German administrator. The two main holding companies defaulted and were placed under court administration in August, U.K. filings show, after the group bought 27,000 units of communist-era public housing in the former East Germany over three years, almost entirely with debt.