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'ASSET-STRIP' AT FALKIRK UA

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Falkirk UA has lost a lengthy legal battle to stop Central RC selling off four business parks to a joint-venture co...
Falkirk UA has lost a lengthy legal battle to stop Central RC selling off four business parks to a joint-venture company just before abolition. But the unitary authority has warned it has a last-gasp strategy for contesting the plans in the courts.

Falkirk UA has twice tried to take out an interim injunction preventing Central RC from selling the parks for £12 million to a company 50% owned by John Laing Property Ventures. It lost last week on appeal.

Falkirk claims the move amounts to asset-stripping.

Central says the move has been made necessary by this year's changes to the Scottish capital controls system.
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