Hove's Old Market Trust could be wound-up over debts (From The Argus)

Hove's Old Market Trust could be wound-up over debts

4:28pm Thursday 26th November 2009 in

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A petition has been lodged with the High Court to wind up the company which runs Hove’s Old Market.

The hearing in relation to The Old Market Trust, which runs the Grade II listed arts venue in Upper Market Street, Hove, will be heard in London on December 16.

The notice was lodged in the London Gazette by Revenue and Customs after the debt-ridden trust’s controversial plans to build a pair of glass penthouses on the roof of the building were rejected by Brighton and Hove City Council.

The council's planning committee voted against the proposal in October, saying it would be an over-development and would be out of character with the the surrounding Brunswick conservation area.

Representatives of the Old Market Trust had warned that the penthouses were a last resort to repay long-standing debts which could force the charity to close the building. It had also made several applications for arts grants which were rejected.

A source close to the Old Market Trust said the notice was a consequence of the council letting the trust down and that it would be talking to its bankers and supporters to see what could be done.

The trust has appealed against the refusal and also has a separate appeal lodged against the council's rejection of an earlier version of the proposal in April.

A council spokesman said it was not possible to fund the Old Market when it was tightening its belt in areas such as schools and social care.