As an aside then didn't the council's carry out any form of "due diligence" prior to sale to Peel. Seems like some ones dropped an almighty ****.
One just wonders if this is something that even Peel didn't foresee and as such playing a card they didn't even know they held?
Well all that's been been mooted on this thread as to be signs of great concern seems to be coming to surface.
From a rate payers perspective then it would be difficult to support their councils throwing good money after bad, loss of control / any financial interest vs. an interest that is able to be manipulated at whim to the benefits of its owner (>75% control). Large liability vs "asset" with little potential to reward. The accountants on the team will be pointing in one direction.
Haven't looked at this from those whose pensions are at risk, though my sympathy goes out to them.