Irrecoverable Debts 2018/2019
The Leader’s Portfolio
To consider report FIN/463 of the Head of Corporate Finance.
Minutes:
The Leader of the Council presented report FIN/463 the Head of Corporate Finance, which sought approval to write-off debts to the Council that were considered to be irrecoverable and exceed the delegated limit of £50,000 per write-off. The proposed write off in excess of £50,000 totalled £465,312.38.
RESOLVED
That the Cabinet approves the write-off of the Business Rates debt of the following
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Name & Address
|
Reason
|
Total £ |
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|
Genus UK Ltd 15 County Mall |
Entered into CVA
|
67,633.43
|
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|
Hhgl Ltd Homebase, Crawley Avenue |
Entered into CVA
|
117,148.50
|
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|
New Mount Properties Ltd 8 & 9 Queens Square |
Offshore Company Unenforceable |
164,089.55
|
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|
Smokin Joes Crawley Ltd 75 County Mall |
Proposal to strike off
|
64,348.49
|
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|
The Buyco Ltd Pegasus Place |
In Liquidation |
52,092.41 |
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|
|
|
|
465,312.38 |
|
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Reasons for the Recommendations
The Council’s Constitution necessitates amounts exceeding £50,000 requiring writeoff to be approved by the Cabinet.