Is there any prospect of the Welsh Government recouping any of the money lost through the sale of undervalued pieces of publicly-owned land sold through RIFW?
Answered by Cabinet Secretary for Economy and Infrastructure | Answered on 17/10/2016
RIFW is entitled to a share of any increase in the value of land parcels at Monmouth and Lisvane, due to the inclusion of overage clauses.
As indicated in the Government’s response to the Public Accounts Committee (PAC) report on RIFW, a legal process has been initiated against the Fund’s Investment Managers, Lambert Smith Hampton. We are continuing to keep under review the necessity of taking any further legal steps.