Plans for a ￡2.5billion theme park dubbed the "British Disneyland" have officially been scrapped.

       Ideas for the London Resort which was going to be as large as 136 Wembley stadiums and three times larger than any other UK theme park have been abandoned.

       The massive attraction park was set to be built on Swanscombe Peninsula in Kent, and plans for the sprawling theme park were first announced in 2012.

       The brains behind the scheme, Kuwaiti businessman Dr Abdulla Al-Humaidi had hopes the proposed park would feature rides, restaurants, hotels, create tens of thousands of jobs and pull in millions of visitors.

       Over 3,500 hotel rooms were set to be created alongside two ferry terminals – one each side of the River Thames.

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       But now plans for the multi-billion-pound entertainment park have come to a screeching halt after an array of delays and setbacks.

       A High Court judge has ordered the company behind the London Resort project - London Resort Company Holdings (LRCH) - into liquidation. The legal row is with entertainment giant Paramount who have been left furious over claims it is owed millions over a broken contract.

       A spokesman for LRCH said: “The dream of the London Resort has been ended by the courts. Natural England fatally wounded the scheme, a single creditor has killed it and, with it, any chance of the UK competing on the envisaged scale of London Resort.”

       Former Transport Secretary Steve Norris, and former chairman of LRCH, described the scuppered plans as a "tragedy" for the country.

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       Speaking to KentOnline today, he said: “I cannot comment on recent events since I resigned from LRCH some time ago, but I offer only one observation. Abdulla and his family put millions into the project. A decade on from when the project started it still does not have planning consent which is a terrible reflection on our sclerotic planning system.

       “I am fairly sure that one of the main reasons why funding from the Gulf dried up was because nobody there could believe the UK government was sympathetic to the project if it still did not have planning consent after so many years and so much money spent.

       “Paramount’s attitude appears strangely unhelpful to say the least. It’s a tragedy for those who have lost money, for Abdulla and his family, for Kent and for the UK.”