Posted on: 07/03/2017
One of the bidders for the Green Investment Bank has called for a judicial review into the sale.
Sustainable Development Capital has applied to the High Court in London to challenge the proposed sale to Australian infrastructure investor Macquarie.
“SDC understands that the preferred bidder’s bid was not compliant with the criteria set out by the government,” the company said.
“The fact that no deal was completed within the targeted timetable attests to the fact that the preferred bid was neither deliverable within the timeframe nor acceptable.”
Past the deadline
The bank was put up for sale in 2015 and was due to change hands last year.
SDC said it had approached the UK Government about its concerns, but had not received a satisfactory response.
“We have no alternative but to seek redress through the judicial review process,” it added.
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