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ANYONE FOR DOUBLE OR QUITS
Tomorrow the Glasgow City council will seek permission from the Court of Session to appeal to the U.K. SUPREME COURT the second decision on WPBR.
GCC seem to believe that if they win they could save the council several hundred million pounds. We think they are wrong but let’s assume they are right. What this means is that it will be impossible to settle the claims. The tribunal hearings are sisted and the council continues to operate WPBR. Appealing will delay final resolution by several years.
What the council don’t understand is that if the lose again it will COST the council hundreds of millions. So, just for illustration, if they settle now it will cost £500. If they win it might cost £100m but if they lose, because of the delay they will have to pay 5 years extra losses and aggregate interest. Cost to the council literally doubles to £1billion - an extra £500m at least.
So by appealing the council are putting a £500m bet on double or quits.
RED or BLACK anyone