Judgement Announced
June 18th 2008
Naturally, all of us at Chilli Developments are extremely disappointed at the result. We are currently discussing a possible appeal with our legal team.
We had a viable exciting innovative scheme which would have provided the best quality housing, retail and office space in the Tees Valley, without any assistance from public funds.
Had it been fully supported by Tees Valley Regeneration and English Partnerships, both phases of our £60m development would be now completed, well before the credit crunch took a hold of the UK and in particular the local economy.
We are local people, living and working in our home town. We feel let down that we were not given the same financial support and assistance as other companies on the site such as London based Bioregional Quintain.
In a region where entrepreneurship is being championed, this is especially disappointing.
This case has had a detrimental effect on all of our businesses financially, personally and in some cases on our health. It has also left many local companies who supported our scheme out of pocket.
As a result, we are seriously considering whether or not Middlesbrough and this region is the right place to conduct business.
This ruling has wider implications for the development and construction industries currently operating under lock-out agreements. We would urge anyone in this position to renegotiate a stronger agreement in which to operate under.
Ends.