Ransom notes
Levelling up and shaking down
THE understanding between senior figures from PD Ports and STDC over the former’s emergency access to its own port was never going to survive the arrival of Chris Musgrave and Martin Corney as STDC’s partners.
With mayor Houchen keen for the STDC to buy PD Ports from Canadian asset manager Brookfield, Musgrave told the development corporation’s chief exec Julie Gilhespie (left) that the matter “presents a fundamental consideration to any financial valuation”. She wrote to valuers working on PD Ports’ accounts informing them of the dispute – which might reduce the price the company could be bought for and put pressure on PD Ports and Brookfield to pay the “ransom” (in property business parlance) that STDC now wanted from the port company for access rights.