Saturday, 6 June 2009

North Somerset District Council having a rough week

Finance is not proving a strong suit of the District Council after losing £3 million in Iceland.

An early estimate of legal fees between the owners of the burnt out Weston Super Mare pier and North Somerset DC was £20 000, the owners threatened to stop rebuilding when the legal fees had escalated to £150 000. A settlement has been thrashed out to allow rebuilding to continue.

The District Council is now wrestling with a potential shortfall of £18 m

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