Decision details
EKH loan - releasing EKH from the loan and writing the loan off
PDF 41 KBDecision Maker: Leader of the Council and Cabinet Member for Strategy and Transformation
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
The Council’s Financial Standing Orders require the write-off of any debt in excess of £20,000 to be approved by the Cabinet. Given the urgency, the Leader is requested to exercise this function directly.
In order to effect an orderly closure of EKH, the councils need to formally release EKH from its obligations to repay the loans made to it.
Decision:
The write-off of loans made to EKH totalling £278,000.
Reasons for the decision:
In order to effect an orderly closure of EKH, the councils need to formally release EKH from its obligations to repay the loans made to it.
Alternative options considered:
Not applicable.
Urgent item?: Yes
Publication date: 11/09/2020
Date of decision: 11/09/2020
Accompanying Documents: