Campaigners are celebrating after a long-running legal battle which could have spelled the end of arts centre Rich Mix was resolved.
More than 17,000 people signed a Change.org petition in support of the organisation, which was fighting demands from Tower Hamlets Borough Council to repay an £850,000 loan in one lump sum, rather than in staggered payments.
Now the sides have come to an agreement. "Tower Hamlets Council and Rich Mix Cultural Foundation are pleased to announce that they have resolved the disputes between them and have brought an end to the legal proceedings currently in the High Court," a statement issued by both sides says. "The resolution of these disputes secures Rich Mix’s future and will benefit all of its stakeholders, users and the residents of Tower Hamlets.
"As part of the resolution, Rich Mix has received section106 monies agreed by the council's Strategic Development Committee in August 2010 and has, in turn, agreed to repay the £850,000 loan given by the council to Rich Mix in 2003 and make a payment in respect of certain external costs."
