Innovation fund (FOI)

​Request

A

Logfiller Limited. Is it possible to have details of the liquidator of Logoff, the company which was given £1.4 million with no security, and

B

What progress has been made towards recovering the fund?

Response

A

Information on the liquidator is already available to the public through the Jersey Gazette at the following link:

Logfiller Limited in liquidation

B

States of Jersey officials continue to appropriately support those companies that borrowed from the Jersey Innovation Fund and are making good progress. Updated annual figures for the Jersey Innovation fund are reported annually within the States of Jersey Accounts. Given the intended publication of the States of Jersey Accounts within 12 weeks of this response, Article 36 (1) of the Freedom of Information (Jersey) Law 2011 has been applied in respect of any further information.

Release of information that relates to individual borrowers is considered prejudicial to the commercial interests of both the borrower(s) and the States of Jersey. For example, ongoing commentary about the financial performance of borrowers risks harming their reputation as a going concern and / or their ability to maintain or pursue commercial relationships. Further such information is therefore considered to be qualified exempt under Article 33 (b) of Freedom of Information (Jersey) Law 2011.

Release of further information relating to the Jersey Innovation Fund and / or individual borrowers is also considered to have a negative effect on confidence in the Jersey economy, individual borrowers and directly on the financial interests of the States of Jersey. Article 34 (b) of Freedom of Information (Jersey) Law 2011 is therefore applied in order to preserve those interests.

Articles applied

Article 23 Information accessible to applicant by other means

(1) Information is absolutely exempt information if it is reasonably available to the applicant, otherwise than under this Law, whether or not free of charge.

(2) A scheduled public authority that refuses an application for information on this ground must make reasonable efforts to inform the applicant where the applicant may obtain the information.

Article 33 Commercial interests

Information is qualified exempt information if –

(a) it constitutes a trade secret; or

(b) its disclosure would, or would be likely to, prejudice the commercial interests of a person (including the scheduled public authority holding the information).

Article 34 The economy

Information is qualified exempt information if its disclosure would, or would be likely to, prejudice –

(a) the economic interests of Jersey; or

(b) the financial interests of the States of Jersey.

Article 36 Information intended for future publication

(1) Information is qualified exempt information if, at the time when the request for the information is made, the information is being held by a public authority with a view to its being published within 12 weeks of the date of the request.

(2) A scheduled public authority that refuses an application for information on this ground must make reasonable efforts to inform the applicant –

(a) of the date when the information will be published;

(b) of the manner in which it will be published; and

(c) by whom it will be published.

(3) In this Article, “published” means published –

(a) by a public authority; or

(b) by any other person.