MANSTON -3

[DrBeauWebber]

Message from Sir Roger Gale
Member of Parliament for Thanet North

I am pleased to confirm that RiverOak have placed $2.000.000 in their clients account with their solicitors, Wragge and Co., to cover the costs of the CPO process (which is all that needs to be covered at present).

This raises the total current deposit to about £1.5 million and the sum will be topped up to £2 million when the indemnity agreement with TDC is signed.
The sum (which will then be placed in escrow) will not be allowed to fall below £1 million during the process and further funds will, of course, be provided if the CPO is successful and following “vesting” in order to purchase and restore the airfield to operational capacity.

RiverOak have had £250,000 on deposit with their solicitors for some time and remain ready, willing and able to meet TDC costs (including those incurred by the previous administration and for which they have no responsibility whatsoever!) immediately upon the submission, by TDC, of proper invoices. My understanding is that such invoices have yet to be provided by TDC.

Much has been made, by the opponents of the airport and by Cllr. Carter, of the fact that KCC have not seen the RiverOak business plan. This will, of course, have to be submitted and scrutinised by an Inspector at a full public inquiry, prior to any grant of a CPO, at the appropriate time. They would scarcely wish to proceed, would they, if they were not confident that their plan is sound?!
Roger Gale
11 August 2015

TDC Website :
Update added Wednesday 12 August:
The Council was today (Wednesday 12 August) informed by Riveroak’s solicitors that they (Riveroak’s solicitors) have received £1,325,000 from Riveroak. The solicitors also said that they will be providing additional information to Thanet District Council to assist in its review of the appointment of Riveroak as an indemnity partner.

Update added Friday 14 August:
The council has today (Friday 14 August) received via its solicitors, a letter and attachments from Riveroak's solicitors.
The council will be reviewing this information with its solicitors next week and will revert back to Riveroak's solicitors with any questions after that discussion.