Paraiso, the BBC contacted Urban Evolution and two days later, it announced it would no longer seek to buy properties in Arndale House for resale and said it would consider any “community-led options” put forward by leaseholders.
Urban Evolution added that it had submitted an application for government funding to remove the cladding in January, before the appeal of a previous bid had been rejected.
It said as part of its business plan there had been discussions about potential investors acquiring the business.
The businesses that bought the Borden Court flats from their original landlords in 2023 are now planning to apply for government funding to remove the cladding, despite the fact that they were never known to have a connection to Mr El Paraiso, Mr Spencer or Urban Evolution until now.
Urban Evolution and Mr El Paraiso are refuting the allegations made by leaseholders, stating they have acted in the best interests of their clients and provided all necessary information to stakeholders.
The BBC continues to investigate this story.
