Weis pushes to take GMCA to Supreme Court over Renaker loans
Summary
Weis Group has applied for permission to appeal to the Supreme Court over the legality of Greater Manchester Combined Authority’s £120m loans to Renaker-linked special purpose vehicles. The dispute centres on whether the loans constituted a subsidy under the 2022 Subsidy Control Act, with the Court of Appeal previously upholding the loans as lawful while noting concerns raised about interest rates and due diligence were outside the case scope.
Why it matters
The case is relevant to surveyors because it touches on public-sector development finance, viability, and the treatment of affordable housing obligations in large residential schemes. A Supreme Court hearing could influence how subsidy control and commercial lending are assessed in future housing-led developments.
Key points
- Permission to appeal has been sought from the Supreme Court.
- The loans in question total £120m and funded two Manchester residential schemes.
- Weis argues the loans distorted the property market and amounted to a subsidy.
- The Court of Appeal upheld the earlier decision that the loans were lawful.
- The case is focused on the 2022 Subsidy Control Act.
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