Highlands and Islands Enterprise (HIE) is to pursue legal action against the holding company of the former operator of the Cairngorm Ski Resort amid claims it failed to maintain its “guaranteed obligations” in operating the resort.
The action has been lodged against Natural Assets Investments Limited, the holding company of Natural Retreats, following the funicular railway being put out of action more than 12 months ago.
An HIE spokesman said: “HIE holds guarantees from Natural Assets Investments Ltd and its majority shareholder that were agreed when the previous operator was appointed.
“As a responsible public agency, we are taking legal action in pursuit of these guarantees.
“It would not be appropriate to comment further at this time.”
NAIL yesterday refused to comment, however, within their Group Strategic Support Report, issued last month, the company listed that a claim was lodged in respect of “alleged damages caused by a former subsidiary undertaking a breach of the company’s guaranteed obligations.”
The company said the claim is at an “early stage” and that directors are seeking further information to “substantiate the claim”.
It continued to say: “The directors will be defending the action and as at the date of signing these financial statements are of the view that no material losses will arise in respect of this legal claim”.