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Members of parliament have warned shareholders in the company whose subsidiary supplied Grenfell’s cladding over a possible takeover
In the news
The Financial Times reports that MPs David Lammy and Emma Dent Coad have told Arconic that they will oppose a takeover of the company if it does not protect the interests of Grenfell victims.
A consortium of two private equity investors, Blackstone and The Carlyle Group, have been trying to buy Arconic, with Apollo Global Management working on a solo bid.
The inquiry into the Grenfell Tower disaster is continuing but there has not yet been any finding of fault against Arconic, which stopped supplying the panels for use on high-rise buildings after the Grenfell fire. The company has said it did not “control the overall [cladding] system or its compliance [with building regulations]”, and pointed out that its product was only one component of the Grenfell façade, the FT reported.
Meanwhile, council leaders have demanded that the government cancel an upcoming cut of £1.3bn in support, The Guardian reports.
According to the paper, almost 80 Labour council leaders have written to housing secretary James Brokenshire warning they face “catastrophic collapse”.
At the same time, one council, Nottingham City, has decided to spend £5m buying up properties in the city to rent them out as social housing.
Local paper the Nottingham Post has the story, revealing that the money will be used for the council to exercise first right of refusal on buying back homes sold under the Right to Buy.
According to the Leicester Mercury, that city’s local authority has similar plans, intending to spend £8m on private homes.
It plans to buy a mix of privately owned properties within existing council sites and homes on privately owned sites.
Nearby, Birmingham City Council has unveiled plans to take part in a national police-run scheme to build “crime prevention” into its new social housing developments.
LocalGov reports that the local authority is the first to join the National Building Approval scheme, which ensures the installation of robust doors, windows and locks.
In Liverpool the story of Knowsley Housing Trust continues, with the Liverpool Echo reporting that the housing association has admitted to forcing entry into tenants’ homes.
The Echo has spoken to a whistleblower who claimed housing officers would be asked to take a joiner to homes where tenants were not granting access, who would use a drill to force entry before changing locks.
Elsewhere, an Aberdeenshire councillor and prominent critic of Donald Trump’s golf course has confirmed to The Press and Journal that he will not vote on a new scheme on the site.
Martin Ford said he will not participate as he could be seen as biased against the plans to build 500 homes by the course at Menie.
On social media
Fab idea by @jrf_uk @BigSocietyCap et al, to undermine the inevitable premium that piles on to people too poor to buy power in existing markets. And another example of the disruptive force of funders who are minded to think differently t.co/dQkumBEOHD
— Polly Neate (@pollyn1)Fab idea by @jrf_uk @BigSocietyCap et al, to undermine the inevitable premium that piles on to people too poor to buy power in existing markets. And another example of the disruptive force of funders who are minded to think differently https://t.co/dQkumBEOHD
— Polly Neate (@pollyn1) December 3, 2018
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