Finers Stephens in row over Olympic village

The London Development Agency (LDA) is set to go head-to-head with Finers Stephens Innocent in round two of negotiations regarding the multibillion pound development of the 2012 Olympic village.

Finers Stephens is representing 300 businesses that currently operate on the proposed site, which are being forced to find new premises by June next year.

So far the LDA has reached agreements with just 10 of the business-owners involved.

News of the LDA negotiations came after the LDA and Stratford City Developments signed an agreement regarding the site last week.

The talks started after tempers flared over Stratford City’s plans to build a £4bn mini-city at Stratford, East London, overlapping with the Olympic campus.

Law firms involved in negotiations include Eversheds for the LDA; Ashurst, which advised Stratford City; and Herbert Smith, for London & Continental Railways, a co-developer with Stratford City.

Finers Stephens property partners Chris Allan and Andrea Squires have been leading its team.

A source close to the negotiations said he expected the firm would pursue a number of extinguishment claims as a result of businesses being unable to relocate within the relatively short timeframe.