Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Dome Europe announces that it has reluctantly decided to withdraw from the Millennium Dome Legacy Competition. This follows information that has come to light recently regarding the situation at NMEC and the Millennium Dome.
Dome Europe announces that it has reluctantly decided to withdraw from the Millennium Dome Legacy Competition. This follows information that has come to light recently regarding the situation at NMEC and the Millennium Dome.
Critically, the information provided to Nomura recently has revealed substantial uncertainty with regard to the ability of NMEC to transfer the Dome assets on a timely basis.
Dome Europe has learnt the following: a report by PricewaterhouseCoopers, which Dome Europe has not been given, apparently reveals critical new information about the costs and future liabilities of the Dome; NMEC has not established what assets it owns; NMEC's lack of understanding of who owns the intellectual property relating to the Dome and its assets is likely to adversely impact on Dome Europe's ability to operate the zones; there are various disputes with sponsors where certain sponsors could have claims against various assets of the Dome, including items core to the project; NMEC's undertaking to Dome Europe on ticket price discounting has been broken; a number of suppliers to the Dome are claiming ownership of assets and demanding payment for their future use by Dome Europe; rights under the construction contracts relating to the structure of the building may be unenforceable due to lack of compliance by NMEC with repair and maintenance procedures.
Therefore it is not possible at this time to progress with a purchase of the Dome. Accordingly, Dome Europe has withdrawn.
Dome Europe remains convinced that a successful leisure attraction can be operated at the Dome. However, it is clear it will be some time before there will be sufficient information available about the state of NMEC and its assets to permit any transaction to proceed.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments