Hollybank Development - Factoring Update
For many years now, Copperworks has factored the 'Hollybank' development, comprising 86 properties, 56 of which are privately owned with the remaining 30 belonging to the Association.
Due to fairly recent changes in legislation, we felt the time was right to seek to be formally appointed as factor of the development as opposed to operating bsed on custom and practice. Whilst custom and practice is a legally recognised means of factoring, we felt it would be beneficial to make things formal. With this in mind, the Association called a meeting on the 8th October 2015 and invited all owner occupiers to attend and vote on whether they wished to appoint Copperworks as a factor for the development. Each of the 86 households carried one vote and a simple majority of 44 'yes' votes was required by the Association. We are delighted to report the following result.
We would be delighted to hear from you.