Les Pas increase in value ‘curious’

Les Pas increase in value ‘curious’

States Members are due to debate in mid-September a deal to hand Les Pas a £10 million prime waterfront site to develop at least 100 three-bedroom apartments in exchange for the company dropping its legal claim to the foreshore.Although the judge Howard Page refused to grant what is termed a ‘security of costs’ application in July last year, former Senator Dick Shenton believes the States side should appeal against that decision.’It does seem curious that the company increased its shareholding value 30-fold after the ruling that security of costs was no longer an issue.

Does this change in the company’s value – and an increase in the number of shareholders – affect that ruling?’ Mr Shenton said.’I believe this change in shareholdings was confirmed around the time that the Policy and Resources Committee were discussing a deal with Les Pas.

I hope that someone from Les Pas will enlighten us.’Mr Shenton has called a public meeting for 19 August at the Town Hall to discuss the Les Pas issue.

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