Important thread from @lewis_goodall here on the new Building Safety Bill - points which will be reflected in tonight's @BBCNewsnight from 22.30...
https://twitter.com/lewis_goodall/status/1412108205468028934?s=20
...as Lewis says, the Government has now accepted two key points of principle.
1) Leaseholders should not pay...
2) Substandard builders should be sued...
1) Leaseholders should not pay...
2) Substandard builders should be sued...
...given this - and given the manifest difficulties in leaseholders & even freeholders suing builders - would it not be the natural solution, as Sir Peter Bottomley advocates, for the Government to pay for the repairs upfront...
...and then seek to recoup the costs by suing the builders on behalf of the leaseholders? Yes, this would shift financial and legal risk from leaseholders to the state...
...but what affected leaseholders are asking tonight is: isn't that precisely where it belongs given it was arguably a state regulatory failing that allowed this whole situation to arise?
...pretty scathing legal opinion on the Building Safety Bill here 👇
https://twitter.com/nearlylegal/status/1412133016361652225?s=20
....suggests even with the 6-15 year litigation window extension it will be hard to sue developers because many operate through corporate structures called SPVs (special purpose vehicles) which they can then wind up after a few years....
...If this is accurate then it further undermines the idea that litigation is a viable way for affected leaseholders to escape their trap.
...ICYMI watch our @BBCNewsnight report on the Building Safety Bill here 👇
https://twitter.com/BBCNewsnight/status/1412172366222925826?s=20
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