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> The decision to close the markets and offer traders compensation was made by the Corporation's Court of Common Council.

> The Corporation will now have to file a Private Bill in Parliament as it seeks to absolve itself of the legal responsibility of running the markets.

The Corporation in this case is the Corporation of the City of London, which is the local government authority for the City of London, which is only the part of London that is within the walls of Roman Londinium. The Parliamentary Bill may very well not pass, in which case the Corporation may be in something of a pickle.

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orra 16 hours ago | parent | next [-]

Why meet your legal obligations if you have a chance of deleting the obligations instead? Absolute chancers.

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labster 15 hours ago | parent [-]

Why stop there? Why not revoke the City’s charter altogether?

	▲	philipwhiuk 15 hours ago \| parent [-]
		The City of London isn't legally reliant on a charter. It draws existence from 'Time Immemorial'. Specifically it exists because it existed before 1189

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philipwhiuk 15 hours ago | parent | prev | next [-]

> The Parliamentary Bill may very well not pass, in which case the Corporation may be in something of a pickle.

I think it's highly unlikely that it would fail.

	▲	moomin 15 hours ago \| parent [-]
		True, but it would definitely be funny.

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walrus01 15 hours ago | parent | prev | next [-]

> the local government authority for the City of London, which is only the part of London that is within the walls of Roman Londinium

Also known as the most efficient and high volume money laundering machine ever devised by man. Do a deep dive into russian oligarch money and the City of London, from reputable journalism sources, and you won't like what you find.

https://www.newyorker.com/magazine/2022/03/28/how-putins-oli...

https://www.theguardian.com/world/article/2024/may/14/nearly...

https://www.economist.com/the-economist-explains/2022/02/04/...

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qingcharles 13 hours ago | parent [-]

The City of London (aka the Square Mile) is literally a world unto itself. Even the Mayor of London is not the mayor of the City of London.

https://en.wikipedia.org/wiki/City_of_London

	▲	vinay427 33 minutes ago \| parent \| next [-]
		That seems incorrect. The mayor is the mayor of Greater London which includes the City of London, although the City also has a Lord Mayor, as London boroughs have elected or ceremonial mayors. In other words, the City has its own mayor in the sense that other parts of London have their own sub-governments, although with a few differences such as policing and city status. > The mayor is scrutinised by the London Assembly and, supported by their Mayoral Cabinet, directs the entirety of London, including the City of London (for which there is also the Lord Mayor of the City of London) https://en.wikipedia.org/wiki/Mayor_of_London > In 1965 the county was abolished and replaced by Greater London, a two-tier administrative area governed by the Greater London Council, thirty-two London boroughs, and the City of London Corporation. https://en.m.wikipedia.org/wiki/Greater_London
	▲	cjrp 6 hours ago \| parent \| prev [-]
		Separate police force too.

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danans 13 hours ago | parent | prev [-]

FTFY

> The Parliamentary Bill may very well not pass, in which case the Corporation may be in something of a pickled herring.