TDC Responds to RiverOak’s rebuttal

The Thanet Gazette has reported the following after RiverOak’s extensive rebuttal of TDC’s report that recommended against the CPO:

“However, Thanet council has slammed RiverOak’s response as “inflammatory”, saying it would be “totally unacceptable” for the council to proceed with an indemnity partner which has not met requirements.

A council spokesman said: “It is disappointing to see such an inflammatory and inaccurate response.

“Thanet douncil has spent a considerable amount of time talking to RiverOak and doing all it can to assist them in providing the relevant information required as part of the soft-market testing exercise.

“The deadline for this exercise was originally 29 August. The council has continued to extend this to facilitate Riveroak’s ability to provide it with the information required.

“Given the risks involved in pursuing a CPO, it would be totally unacceptable for the council to agree an indemnity partner which failed to provide the appropriate assurances.

“The cabinet report due to be discussed this Thursday (December 11) is thorough and has been completed by well qualified, experienced officers, in accordance with the council’s due diligence process.

“This has been supported by professional legal advice from a specialist CPO barrister.

“There also appears to be some misunderstanding around the purpose of the report which is reporting back on the outcome of the soft-market testing exercise and not debating the wider issues of a CPO.

“Finally, having successfully purchased the Dreamland site after a lengthy legal battle, the council is fully cognisant of the relevant CPO process and is all too aware of the complexities that can arise.”