TRANSPORT AND TECHNICAL SERVICES
WRITE OFF OF OUTSTANDING DEBT DUE FROM AMIANTE LTD (“AMIANTE”)
- Purpose of Report
To enable the Minister to approve the write off of outstanding debts due from Amiante, plus associated costs of recovery incurred to date.
- Background
Amiante, UK registered company number 03174116, was engaged in the removal of asbestos at the airport in 2012. Over the period January to May 2012 Amiante incurred total debt of £46,364 in tipping fees. A further £390 was incurred in August 2012 in debt recovery in Jersey, to no avail, making a total of £46,754 due.
A bad debt provision was made in 2013 against this debt in full. A total of £600 was also incurred in pursuing this debt in the UK, and this was expensed in 2012.
Amiante commenced liquidation in September 2013, and the likelihood of recovering any of the outstanding debt is deemed to be nil, due to no assets.
3. Discussion
The Department is seeking permission to write off the full debt, totalling £46,754, as the likelihood of recovering any of the outstanding debt is deemed to be nil.
As the provision was made in full in 2013, this will have no impact on the current year’s figures.
- Recommendation
The Minister is recommended to approve the write-off of the debt, totalling £46,754.
- Reason for Decision
Under the existing TTS Scheme of Delegation, the Minister is required to approve the write-off of debts in excess of £25,000.
- Resource Implications
The proposed write-off will have no net impact on the 2014 figures, due to the provision made in 2013.
- Action Required
The Minister to notify the Finance Director to write off the debt balance as set out above.
Written by: | Finance Manager |
Approved by: | Director of Finance |