Newham Council has accused a tenant management organisation of “significant failure” to manage its finances, in a row over its attempt to dissolve the group.
According to Inside Housing:
“The east London borough has ordered Carpenters Tenant Management Organisation (CTMO) to pay more than £200,000, transferred its staff to the council and moved to end its management license.
CTMO is a tenant-run body which has managed the Carpenters Lane Estate in Stratford since 1998. Newham plans a major regeneration of the estate, but has faced high-profile resistance from campaigners supported by CTMO.
In a statement, the council said it had decided to end the contract with the TMO and bring services back in house to protect the housing service for tenants.
The statement said: “The TMO has failed to produce their final accounts for the last financial year and we believe they are insolvent. This is a significant failure by the TMO and indicative of an organisation in trouble.” ”