Bank of Ideas: Still Surviving the Downturn with No Bailout Required

Occupy London’s Bank of Ideas has been granted permission to take its case against a possession order to the Court of Appeal. Building owner UBS was criticised by Lord Justice Lloyd for failing to give adequate notice to occupiers ahead of last month’s ruling on the order by the High Court. The victory will see the Bank of Ideas continue to run into the New Year, with future legal proceedings pushed back to 11^th January at the earliest.

The previously unused property was taken over in a ‘public repossession’ by activists associated with Occupy London on 18^th November. The site subsequently opened its doors to the public as a free community space, playing host to a range of events, talks, film screenings, activities and workshops – largely centring around the concerns of the global occupy movement for social and economic justice. This week’s legal victory will see the Bank of Ideas continue in this capacity over the festive season.

The ruling was made as separate proceedings were underway in the courts regarding the potential eviction of protesters occupying land outside St Paul’s cathedral. The City of London Corporation is seeking an eviction on the grounds of obstruction of the public highway, but on the first day of the hearing the High Court heard that allegations of a negative impact of the protest have been exaggerated.

The hearing continues.

By Mark Kauri