The Supreme Court is set to hear a legal dispute over public loans worth £140m issued to a Manchester skyscraper developer.
The case involves Aubrey Weis and the Greater Manchester Combined Authority (GMCA), concerning loans made to special-purpose vehicles linked to Renaker, a property developer founded by Daren Whitaker.
Loans Approved in 2024
A GMCA decision in 2024 unlocked £70.8m for Trinity Developments and £69.2m for New Jackson (Contour) Investments Ltd, both supporting schemes in Manchester. The funding came from the Greater Manchester Housing Investment Loans Fund (GMHILF).
Earlier hearings took place in the Competition Appeal Tribunal and the Court of Appeal, where questions were raised over how the loans were approved and the interest rate applied.
Court of Appeal Findings
During a June hearing, it was argued that 'no due diligence was ever conducted into Mr Whitaker's liabilities or credit worthiness' and that the loans were made on 'what was obviously an unlawful basis'. The GMCA contended in court that a 'whole due diligence process' had been followed.
A ruling from the Court of Appeal on June 29 found there was 'no error of law'. The Weis group said the Court of Appeal held that the GMCA ought to have had regard to the Government's statutory guidance on subsidies.
Permission has now been granted for the case to be appealed to the Supreme Court.
Weis Group Response
A Weis Group spokesperson said: "We are pleased that the Supreme Court has granted us permission to appeal on two grounds."
"The Court of Appeal previously found that our concerns regarding the GMCA's lending practices were well founded. We now look forward to making our case on the jurisdiction of the CAT before the Supreme Court in due course," they added.
The GMCA was approached for comment.
