Hipennine
IMHO "gifting" of the land would be in law, a significant balance sheet event, and therefore reportable, and potentially a criminal offence if it wasn't. The tax implications of gifting company assets are huge.
You are absolutely correct, "Northbound A1" take note
, & as such as said, IF there were a disposal by transfer to another entity, sale or otherwise it should show up in earlier years financial statements of DTVA Ltd.
Also -
Northbound A1 -If I'm correct in my understanding of the present share and land ownership, Peel will be still sitting on a very valuable plot of land (south side) if the airport shares are sold or they just lock the doors.
From the above then the issue seems fairly clear, any land owned by DTVA at the time of the Peel acquisition still vests with DTVA, which is 75% owned by "Peel-VAS", though conveniently their shareholding may increase as & when the share dilution is completed. Thus on disposal of the assets of DTVA on a disposal / breakup, Peel would stand to gain a larger percentage of the proceeds of any assets sold. However as in any event the company is indebted through inter company loans etc. to the Peel group, then the local authorities will not receive any consideration from any disposal in any event
Northbound A1 you continue to be obsessed with Peel/Land on the south side, though I fail to see as to where you are going, other that to express your "sour grapes" that Peel has in a business sense put one over on the minority shareholders.
What you should really concern yourself about is to why & upon what terms that the local authorities agreed to sell 75% of DTVA to Peel in the first instance, without, as it appears, from what I can see, the necessary formal contractual arrangements in place to ensure that Peel actually "invested" £20M capital into the airport, rather than it appears to allow such sums, justifiable or not, to be set off against Peel Holdings ongoing losses, backed with presumably ?,the security of airport land. In such a situation then such land would pass to the Peel group of company's on any default triggered by say airport closure or whatever.
Unfortunately this is business, I really suggest that UNLESS you have some actual facts that you are prepared to publish on this forum, that support your concerns, then unfortunately there is no other issue to be addressed, save that the people of Teesside now find themselves presented with a scenario where they are likely to find themselves without the privilege of a local airport.
