This is the first of two developments with the Black Cap Pub we feel sure you would very much like to know about... In a report 'FAULTY TOWERS - Understanding the impact of overseas corruption on the London Property Market' published today, Transparency International have just released their report on the effect of foreign money on British property, including leisure sites and house prices. The report is hard hitting and heavily evidenced. The Black Cap Pub is featured in a Community Case Study is on Page 52 and was based substantially on uncovery work run by the Black Cap Foundation and members work though Transparency have found an additional perspective. (You'll remember the requests we put out for help with research, and with your help it was VERY effective.) The report finds that in regard to The Black Cap Pub: Pubs are seen as a profitable investment as they can be converted to flats for profit. This was one of 6 pubs bought by Stephen Cox via Kicking Horse Ltd (Jersey), and because of campaigner pressure and council support, the only one left that hasn't been converted or where planning permission for a conversion hasn't been granted. The Black Cap purchase was funded using Russian money provided by billionaires Alexander Abramov and Aleaxander Frolov The community has been strongly affected by the purchase and closure. Abramov and Frolov's mortgage stake was bought out by another secret offshore Mortgage Company Dragonfly Finance S.A.R.L. in October 2013 after Vladimir Putin applied pressure on Evraz, their Russian steel making business via their Federal Anti-Monopoly Service to exert more Russian State control over them and their finances. Report Link is at: https://issuu.com/transparencyuk/docs/faulty_towers_ti-uk_web_01-03-17 We are featured on Page 52 under Communities A more general summary of the Transparency International report is at: http://www.transparency.org.uk/faulty-towers/ The Black Cap Pub is owned by Stephen Peter Cox, via his shareholding in Kicking Horse Ltd (Jersey), and has been closed for almost two years, despite a very strong campaign by The Black Cap Foundation and our 11,000 members. A second Camden-Council mediated meeting is planned between Cllrs Danny Beales, Lazzaro Pietragnoli, and Richard Cotton with the Black Cap Foundation and Stephen Cox on 6th March 2017. The Black Cap Foundation want as a priority to see the pub re-opened immediately by Kicking Horse Ltd, or sold or leased to another party who will re-open the pub for the LGBT+ Community. We've just sent this to 26 London media outlets to consider publishing and will put the results on Facebook as they come in. The Black Cap Foundation will be commenting further next week. On Sunday we'll send you the next piece of news we think you'd very much like to know about... Thanks again for being loyal supporters. The numbers of petitioners and Facebook members continues to climb, and it is unbelievable how much strength your combined voice gives us. With best wishes Chris Clark Program Director (Photo courtesy of Buzzfeed)