Battle-scared Carlex veteran Norman Greed has pulled off another coup for residents at Eddington Court: a £5,000 repayment on insurance commissions from the Tchenguiz Family Trust.
In June Mr Greed, a director of the Eddington Court RTM claimed £10,000 on past insurance commissions to Kingsborough and Oval.
The action, which was supported by the RTM board of directors, was to have taken place at the small claims court, but was mediated to a £5,000 settlement, which goes into the contingency fund.
Mr Greed was disputing commissions between 2004 to 2009, and Fairhold – a Tchenguiz company – argued that it was too long ago.
In the compromise agreement, Fairhold Homes (no. 9) Limited says the payment is “strictly without admission of liability or fault”.
Eddington Court had to agree to the offer with signatures of 80 per cent of the residents agreeing the settlement.
In sending the document to the residents’ managing agent, Steve Cieslik congratulated the activists:
“The terms seem fair. I cannot see you having any further claims for the period to 31st August 2010.
“I did worry that you might forgo your right to challenge the rental on the house manager’s flat (should it ever come to that), but the settlement only prevents you doing so prior to 31 August 2010.
“As we know Norman and other leaseholders had already taken them to a tribunal prior to this date. You would still be able to challenge from 1st September 2010 onwards.
“A better result than I had expected and so well done”
Eddington Court, which featured in the Channel 4 Dispatches programme of September 2012, is an shining example of what can be achieved by right to manage and fighting back against the monetisers in retirement leasehold.
Congratulations to all the residents there, and thanks to Charles Willis for already outlining this case here and on About Peverel.
The agreement can be read here