Telegraph Group and Northern & Shell (N&S) seem to be further apart in their quest for an amicable settlement over West Ferry, with N&S owing 5m for printing services.


Telegraph Group chief executive Dan Colson said: Its a worry when people dont pay several million pound bills. I dont know whats more worrying, whether they cant rather than wont pay.


N&S wants Docklands-based West Ferry to pay a dividend of 11m, of which as joint owner it would receive a 50% share. This would cover the print bill.


But Colson said the claim was unrealistic and without grounding in business sense.


They want a 100% dividend. That wouldnt take into account operating and capital expenditure. A business needs working capital. Nobody pays a 100% dividend, he said.


There is still a lot of nonsense being said about West Ferry. Its just irresponsible to suggest that the site will be redeveloped. Theres no regard for the 700 people who work there. You might as well say that itll be moving to Hyde Park.


N&S acquired 50% of West Ferry when it bought the Express Group for 125m (PrintWeek, 24 November). Telegraph Group then served notice that it intended to buy N&Ss half as stated in the original agreement.


As the two sides have failed to agree, the matter will now go to arbitration.


N&S wouldnt comment.


Story by John Davies