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 Subject: RE: Its a small world
 
Author: Solomon Green
Date:   11/21/2001 5:45 pm WEDT
Ex Cllr Razzall failed to declare his interest in Cala some years ago when that company was developing a £2.5 million property in Teddington. Afterwards he said that neither he nor his wife held more than 1/2% of the capital of Cala. 1/2% of the company was worth, at that time, £500,000.

Ex Cllr Razzall was, also, listed as a director of a subsidiary company of Cala. Whether it was Cala Homes or another subsidiary I do not recollect.

You can look this up in the Council Minutes where the matter was raised and where his friends ruled that it was up to an individual Councillor as to whether he wished to declare an interst or not.

His relationship with LET and the Beckwith brothers is more tenuous but John Gunn, the Beckwiths' associate in developing Riverside Rackets Club, was responsible for injecting a large sum of money into Razzall's company Abaco at a price substantially higher than the then market value, which had the effect of saving that company and adding considerably to the ex-councillor's worth.

John Gunn, who ran the failed British and Commonwealth, had the reputation of being a very shrewd investor and almost certainly saw something in Abaco which the rest of the market had not appreciated!!
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