Angered at the Commission’s decision on Wednesday to enter exclusive talks with Richard Branson’s People’s Lottery despite having rejected both bids Camelot opted for legal redress.
Dianne Thompson, chief executive designate, said: ‘Camelot, with the full support of its shareholders has today decided to apply for permission for judicial review of the decision taken by our regulator, the National Lottery Commission, to negotiate solely with the People’s Lottery.’
‘Yesterday we asked the National Lottery Commission to re-consider its decision to exclude Camelot from negotiations for the new licence to operate the National Lottery. Regretfully, they declined to do so and therefore Camelot acting on behalf of its staff has decided to seek redress through the courts,’ Thompson said.
The lottery regulator concluded this week that neither bid for the next seven-year lottery licence, was secure enough, but that it would allow the People’s Lottery who are advised by Big Five firm KPMG one month to come up with a better offer.
‘Amidst the shock and disbelief of this week’s decision Camelot’s 800 staff strongly believe that the decision to deny Camelot an opportunity to negotiate alongside the People?s Lottery is totally unfair,’ said Thompson.
Branson is however optimistic that with his offer to underwrite the lottery with £50m, the People Lottery Consortium is one step closer to securing the licence.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.