09 May 2006 – The Telegraph
Property entrepreneurs David and Simon Reuben have sent an open letter to London & Continental Railways to “make (their) position clear” on the 2012 Olympic site the brothers are supposed to be developing with joint-venture partner Westfield.
LCR, which owns the leasehold on the Stratford City site, recently launched legal proceedings to terminate the agreement with the two parties. LCR said it lost patience with the warring consortium after they failed to agree terms of an auction that would result in one of the two partners owning the whole project.
Yesterday’s letter said the Reuben brothers are willing to go ahead with a shoot-out auction without pre-conditions. The notice gives six weeks to resolve the internal differences or face removal from the scheme. The brothers said: “We don’t want that to happen nor do we think it’s necessary.” They conceded: “It’s the case that the partnership has a lot of problems.”