Project:
378 - Dispossessed
Description:
Trustees have failed to execute their contractual right to purchase the Croyde Bay freehold for £1, despite having the legal authority to do so.
Desired Outcome:
Trustees execute the freehold purchase in accordance with the Completion Guarantee and Escrow Agreement, securing value for members.
What Could Go Wrong:
Substantial property value is lost, enabling Saltmarsh to acquire assets at unfair advantage. Trustees may be exposed to liability.
Current Situation:
Freehold now valued at £10m+; no evidence trustees acted on £1 option.
Action Strategy:
Formal group letters to trustees placing them on notice of negligence and demanding explanation.
Concern Category:
C6 Legal / Contract Terms
Location:
Analysis: Not available
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