Sir Peter Bottomley MP says:
“I congratulate the residents and leaseholders at Charter Quay. The successes in five legal cases have led to purchase of the site at a reasonable price.
Parliament, Government departments with the Courts and the Leasehold Valuation Tribunal should learn the lesson. The law is not working the way it should.
When a freeholder or the head leaseholder tries to frustrate the right-to-manage or to prevent purchase of the head lease or the freehold, the legal process should be low-cost, fast and effective.
I ask Martin Boyd and others to make available the chronology so others do not suffer for so long or have to risk the uncertainties of litigation.
Additionally, I understand that the purchase price of less than £1 million is less than half the declared value in company accounts. I expect every accounting firm to double check directors’ valuations.
It would not be surprising to see widespread reductions in claimed asset values. Might there be too many other exaggerated claims of values?
Are these based on unwarranted fees and charges overpaid by too many of the country’s three million leaseholders.”
— Sir Peter Bottomley MP - 11th July 2013
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