§ Lord Oakeshott of Seagrove Bayasked Her Majesty's Government:
In relation to the contracts signed between English Partnerships, Meridian Delta Limited, AEG and Quintain in May 2002, what is the long-stop date after which English Partnerships has the right to rescind the contracts if the deal has not gone unconditional; and in the event what costs English Partnerships can recover from other signatories of the contracts. [HL914]
54WA
§ Lord RookerThe contracts signed in May 2002 between English Partnerships, Meridian Delta Ltd and Anschutz Entertainment Group are commercially confidential. In order to protect the parties' interests it is normal commercial practice not to reveal details of contractual arrangements. Revealing such details may prejudice the Government's position and compromise the Government's ability to achieve value for money in the future.
The Office of the Deputy Prime Minister will review this position once the deal has gone unconditional, when we will make public as much information as possible without compromising commercial interests for the future.
§ Lord Oakeshott of Seagrove Bayasked Her Majesty's Government:
Further to the Written Answer by the Lord Rooker on 11 December 2003 (WA 23), what are the grounds for the statement that "all of English Partnerships' costs in relation to the Dome will be recovered from sale proceeds"; and whether that is contingent upon the deal with Meridian Delta Limited going unconditional. [HL915]
§ Lord RookerThe expected financial returns to English Partnerships from the sale of the Dome and associated land on the Greenwich peninsula will exceed English Partnerships' costs in relation to the Dome by a multiplier of several times. English Partnerships' costs will be repaid in the early phases of the continued development of the peninsula. Those phases will begin as quickly as possible after the deal with Meridian Delta Limited goes unconditional.