The first tenant management organisation to apply for
stock transfer in London under new powers will fight a ‘hostile’ supervision
order that could delay the deal. Patmos Area Community Conservation Association
applied to Lambeth Council for a stock transfer under new regulations forcing
councils to co-operate with tenant groups wishing to take ownership of their
estates. But it has emerged PACCA has been under supervision from the town hall
since December, after the borough commissioned Pricewaterhouse Coopers to
investigate the TMO’s finances due to concerns about its performance. The group
had been planning to apply for transfer for months. Aside from exceptional
circumstances, Lambeth has no power to refuse the transfer but a council
spokesperson confirmed it will not go ahead while the supervision order is in
place. Read more on Inside Housing.
