The former owners of the Coniston Hotel have confirmed they are considering legal action concerning the London Road venue.

Ernie Berntsen and Chris Richardson have been in talks with lawyers to challenge NatWest Bank’s decision to withdraw funding – just weeks before it was set to open in June last year.

The businessmen say they are confident they will get the hotel back and plan to open it for trading as soon as possible.

Although they wouldn’t be drawn on the specifics of the challenge “for legal reasons”, they believe they have a very strong case.

Mr Berntsen said: “We are prepared to fight this all the way.”

The two men say they invested £4.8 million of their own money in regenerating the building and making it suitable for four-star customers.

They had an agreement with NatWest to borrow just over £5 million to complete the project.

But just two weeks from opening, the bank stopped the funding and ordered a revaluation of the property.

More than 60 members of staff were left without a job.

Matthew Tait and Sarah Rayment , of BDO LLP business restructuring partners, were appointed joint administrators.

Mr Berntsen said: “I was on holiday in Spain when I was told what was going on. I had to come back and leave my family out there. It was devastating.

“We are not giving up the hope of reopening the hotel and reinstating the staff and paying the creditors the money owed to them.”

Mr Richardson said: “The freezers were full, the beds were made, the fridges in the bar were filled with beer – there’s no reason in the world why it shouldn’t be running now.

“It’s been difficult getting to this stage but we are determined to get the hotel back in our control.”

The business partners, who bought the property in 2006, announced in September 2009 their plans to turn it into Sittingbourne’s number one hotel.

The site boasts eight suites and 69 rooms, a large restaurant, including private dining area, and ballroom with theatre-style seating for up to 300 people.

Metal gates now surround the building which is manned by security guards 24 hours a day.