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| Version 1 | Version 2 |
|---|---|
| Probe call over council land deal | Probe call over council land deal |
| (1 day later) | |
| A council is set to launch an internal inquiry amid fears that millions of pounds have been lost through insider trading over a land deal. | A council is set to launch an internal inquiry amid fears that millions of pounds have been lost through insider trading over a land deal. |
| North Lanarkshire Council provisionally sold 84 acres of land near Cumbernauld. | |
| The day after the new owners were due to assume control, the land was rezoned for housing, increasing its value. | |
| In a confidential report obtained by BBC Scotland, the council said there had been a lack of transparency over property deals it had conducted. | In a confidential report obtained by BBC Scotland, the council said there had been a lack of transparency over property deals it had conducted. |
| The land involved in the controversial deal, which lies close to Palacerigg Country Park, was originally zoned for leisure use and currently has a golf driving range and nine hole course on it. | The land involved in the controversial deal, which lies close to Palacerigg Country Park, was originally zoned for leisure use and currently has a golf driving range and nine hole course on it. |
| A company called Multi Link Leisure had been leasing it from the council under an agreement that included an option to buy. | A company called Multi Link Leisure had been leasing it from the council under an agreement that included an option to buy. |
| This review should be carried out as a matter of urgency Internal council report | This review should be carried out as a matter of urgency Internal council report |
| The company opted to exercise the right to buy with a move in date of 8 October 2008 - before the land was rezoned for housing under the council's Local Plan the following day. | |
| BBC Scotland understands the value of the land is now estimated at anywhere between £5m and £60m. | |
| The affair led to fears that someone in the council may have passed information informing Multi Link Leisure that the land was about to rezoned. | The affair led to fears that someone in the council may have passed information informing Multi Link Leisure that the land was about to rezoned. |
| The deal is now at the centre of a legal battle with the council attempting to either have it struck down or renegotiated. | |
| As a result of the Palacerigg deal, the council commissioned a review group to look at number of other land deals involving the council. | As a result of the Palacerigg deal, the council commissioned a review group to look at number of other land deals involving the council. |
| Legal action | Legal action |
| The review group's report said: "Concerns were raised about the ability to identify a clear audit trail for some decisions and recommendations being made and which officers were involved at each stage". | The review group's report said: "Concerns were raised about the ability to identify a clear audit trail for some decisions and recommendations being made and which officers were involved at each stage". |
| It also called for a review of both the people and procedures involved in the Property Services Department, and added: "This review should be carried out as a matter of urgency". | It also called for a review of both the people and procedures involved in the Property Services Department, and added: "This review should be carried out as a matter of urgency". |
| A spokesman for North Lanarkshire Council said it would be "inappropriate to comment" because of the ongoing legal action. | A spokesman for North Lanarkshire Council said it would be "inappropriate to comment" because of the ongoing legal action. |
| Multi Link Leisure, which has their registered office at a lawyer's firm on Douglas Street in Glasgow, did not respond to telephone calls or e-mails from BBC Scotland. | Multi Link Leisure, which has their registered office at a lawyer's firm on Douglas Street in Glasgow, did not respond to telephone calls or e-mails from BBC Scotland. |