Agenda item

The Director of Markets and Consumer Protection updated Members on the recent High Court Hearing into the two Preliminary Issues affecting the lease negotiations with the Smithfield tenants.  The Hearing had been very thorough, with debate about the first Issue lasting one and a half days and  the main point of principle, on whether or not there should be a separate rent and service charge, lasting four and a half days.  Members noted that a result was expected by the end of July and they would be informed as soon as the result was known.  The full legal costs (when available) would be disclosed in a private session at a future Markets Committee meeting.  In response to a question Members noted that leave to Appeal might be requested by the losing party.  The Chairman confirmed his commitment to reaching a mutually agreeable solution, if possible.