NorthboundA1 I don't know what your "source" is but I would not put too much reliance on this.
Even IF it were true that BMI compensation was "on the horizon" it should not have any impact on any sale of DTV. There are many ways that any forthcoming income can be "ring fenced" by Peel Airports Ltd (PAL).
What you should do is read a copy of the latest published accounts of "Durham Tees Valley Airport Limited " for the APE 31 March 2011, obtainable for £1 from Companies House. These will provide you with an insight as to what has actually being going on. Short of having some relevant accountancy experience you may struggle with some of the intercompany transactions, which are now subject to a very complex group structure creating "smoke & mirrors" at every oportunity.
There has as such been substantial intercompany transactions which interestingly enough reflects an amount of £24 Million owing to "parent and fellow subsidiary undertakings" i.e. "should" funds be received by DTVA, then there is every justifiaction necessary to pay such sums of money straight out of DTVA and into PAL or some other remote entity.
Whilst before getting too carried away it should be noted that the accounts do not insofar as I noted, contain any reference to any potential sum due in respect of an outstanding court case. If I am correct & a large material sum "did appear" then if I were a shareholder then the first question I'd address would be one of disclosure to the Auditors.
A more pragmatic view may be that upon appraising these accounts, to form the opinion that DTVA Limited is a hopeless "basket" case. An impairment review of the company's assets in the previous year (required by VAS) resulted in an operating loss for APE March 2010 of £37.8 Million, whilst the operating loss was down to a more managable £1.3 Million in 2011, there is nothing positive to take.
However if one's curiosity is stimulated by these figures then something may be gleened in the obtaining of the earlier years accounts for DTVA, (obtainable from the same source) as they may give some insight as to how / where the valuation placed on "Land , Buidings and Assets in the course of construction of £25.5 Million at April 2010 was arrived at
