Transport for London Bill [Lords]

On the agreement entered into on the Earls Court exhibition centre, the publication of such a list might reveal that, on Earls Court 1, which is the largest piece of land, the developer held a relatively short lease on the property and the freehold and the reversion remained with TfL. However, TfL has a 37% stake in that joint venture company, which means that it has a minority of votes on the board. Effectively, it has surrendered all decision making on the site to the developer, but, should the developer of this £2 company go bust, the taxpayer would be left with the liability.