Issue - meetings
Irrecoverable Debts 2019/20 (over £50,000)
Meeting: 05/02/2020 - Cabinet (Item 8)
8 Irrecoverable Debts 2019/2020 
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The Leader’s Portfolio
To consider report FIN/490 of the Head of Corporate Finance.
Minutes:
The Leader of the Council presented report FIN/490 of 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 £301,982.60.
RESOLVED
That the Cabinet approves the write-off of the Business Rates debt as set out below
|
Name and Address |
Reason |
Total £ |
|
Genus UK Ltd 15 County Mall |
In Administration |
57,529.67 |
|
Monsoon Ltd 10 & 11 County Mall |
Entered into Company Voluntary Arrangements |
82,320.00 |
|
Premier Parking Gatwick Ltd Land Peeks Brook Lane |
In Liquidation |
162,132.93 |
|
Total |
|
301,982.60 |
Reasons for the Recommendations
The Council’s Constitution necessitates amounts exceeding £50,000 requiring write-off to be approved by the Cabinet.