The fraudulent corporate councils are "renegotiating" their private high-interest bank loans, the 'loans' that drove most of the corporate councils so deeply into private debt that they will never be able to pay them off!
https://neweconomics.opendemocracy.net/britains-local-councils-are-crippled-by-debt-its-time-to-question-repayment/
https://theferret.scot/lobo-scottish-councils-bank-loans/
The corporate councils took out the 'loans' with "teaser" incentives of low rates before the dodgy banks (primarily RBS and Barclays) raised the interest rates to 8% to 'cash-in' from the Misappropriation of Public Funds (a serious criminal offence). Readers will remember how the UK government/Bank of England 'bailed out' RBS with £46 billion in 2008, using precious Public funds to rescue RBS group from collapse, and making RBS fully owned by the people of England. RBS group had been caught in numerous scandals and litigations for mortgage fraud in several US states. RBS is one of the worst banks in the world, alongside HSBC (the Mexican drug cartel bank of choice for drug money laundering) and Barclays (fined £290 million for manipulating LIBOR rates). But RBS clearly 'forgot' that point, issued large bonuses to its executives and staff, and then conspired to steal even more Public funds through high-interest loans to the corporate councils.
RBS, the national disgrace, is desperately trying to appear less criminal by offering early repayments with lower interest:
https://www.theguardian.com/business/2019/mar/23/rbs-to-wind-down-1bn-worth-of-contentious-local-council-loans
After all, RBS has already made so much money from precious Public Funds that it can afford to appear 'generous' at this point.
But now the Section 151 (Chief Financial) Officers of each of the corporate councils are trying to hold the private banks the account for their own Criminal Negligence and the Criminal Negligence of their predecessors.
https://www.room151.co.uk/funding/councils-lodge-lobo-fraud-claims-with-high-court/
"Reacting to the filing of the councils’ claim, Joel Benjamin of campaign group Debt Resistance, said: “Crippling loan breakage penalties on LOBOs can significantly dent council reserves, enough to tip some struggling councils like Northamptonshire into bankruptcy, or force councils to hike local taxes.”"
Which of course signifies that the corporate councils are private registered businesses because no "Public Authority" that exists to serve the Public could possibly declare bankruptcy.
When the inhabitants of counties realise that they have, and are being, conned out of their hard-earned money, to pay for the Misconduct and Misfeasance in Public Office of the council executives and other officials, supported and protected by the politically-appointed councillors, they will probably want to stop paying any more Council Taxes and Business Rates.
