Purpose

To enter into a Business Sale Agreement with
ECL, whereby the Council acquires all of ECL’s assets (with
the exception of the six leasehold flats in the Guildhall Shopping
Centre), including any work in progress in return for proper
consideration, in the form of a release of ECL from its obligations
under the Load Agreements.
 
The sale agreement shall include a novation of
all contracts save those that may be terminated by ECL with the
Council’s agreement.

Content

To enter into a Business Sale Agreement with
ECL, whereby the Council acquires all of ECL’s assets (with
the exception of the six leasehold flats in the Guildhall Shopping
Centre), including any work in progress in return for proper
consideration, in the form of a release of ECL from its obligations
under the Load Agreements.
 
The sale agreement shall include a novation of
all contracts save those that may be terminated by ECL with the
Council’s agreement.