How much money was spent on VESL

D64 made this Freedom of Information request to Portsmouth City Council

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Dear Portsmouth City Council,

Previous requests to clarify how much money was spent on Victory Energy Supply Limited have been met with a refusal to supply the information because the Directors were attempting to sell the business or negotiate exit from some contracts.

Now that VESL has been shut down, and there is no further activity to dispose of the business, I believe that the information is not exempt.

My request is in three parts:

1. How much money has VESL (or PCC on behalf or in anticipation of VESL) spent from before it was incorporated (an estimate for this period would suffice) and from incorporation to date, including but not limited to all monies paid by PCC to sub-contractors and employees (to within 5%).

2. What were the remaining liabilities at the point the decision to close the business was made

3. Did PCC provide a financial guarantee to VESL (as in for example a Parent Company Guarantee) and if so how was that approved and who approved it, when, and what was the amount of the guarantee, and how were elected members informed of the guarantee.

Yours faithfully,

Jerry Brown
D64

FOI, Portsmouth City Council

1 Attachment

 
 
 

Information Governance, Corporate Services
Civic Offices, Guildhall Square, Portsmouth, PO1 2AL
Telephone:    023 92 834385
                                               

                                                                       
 
Reference: FOI2021/0320
 
Dear Jerry Brown
 
 
FREEDOM OF INFORMATION ACT 2000 - INFORMATION REQUEST ACKNOWLEDGEMENT
 
Thank you for your request for information received on 10th March 2021.
 
Your request is being considered and, subject to the points made below,
you will receive the information requested as promptly as possible within
the statutory timescale of 20 working days as defined by the Freedom of
Information Act 2000.
 
If we need to obtain more information from you in order to understand what
information you require, we will contact you. If this is the case, the 20
days time limit will not commence until your request has been clarified.
 
The Act defines a number of exemptions that may prevent release of certain
information.  The City Council will consider whether any of these
exemptions apply and, where required by the Act, whether it is in the
public interest to release the information.  If we have to make a public
interest test, the 20 day time limit might be extended. We will inform you
if the time scale has to be extended and if any information is withheld
and of your rights of appeal.
 
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If you have any queries or concerns then please contact the Corporate
Information Governance Officer at Portsmouth City Council, Civic Offices,
Guildhall Square, Portsmouth, Hampshire, PO1 2AL, telephone 023 92
834385, e-mail [1][email address].
 
Yours sincerely
 
 
 
                                                                                               
           
Wendy Burton
FOI Officer
 

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Dear FOI,
The FoI request FOI2021/0320 was due to be answered no later than 9th April 2021.

Can you please provide the answer to the request and the reason for the delay, and if it is to be further delayed the reason for the further delay and the date on which the request will be answered.

Yours sincerely,
Jerry Brown
D64

FOI, Portsmouth City Council

Dear Jerry Brown

Thank you for your email.

Unfortunately, the FOI Team have still not received the response for this FOI request. I have just sent a further chaser and hope to get this response imminently.

Please rest assured that we will continue to chase this response and will send to you as soon as we receive it.

With best wishes

Wendy Burton
FOI Officer

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FOI, Portsmouth City Council

1 Attachment

[1]logo_eng

Information Governance

Corporate Services

Civic Offices, Guildhall Square, Portsmouth, PO1 2AL

Telephone:    023 9283 4385

 

 

Our Ref: FOI20210320

 

Date 12 April 2021

 

Dear Jerry Brown

                              

INFORMATION REQUEST – Victory Energy Supply Limited

 

Thank you for your request for information received 10^th March 2021,
which was considered under the Freedom of Information Act.

 

In accordance with the Act, I confirm Portsmouth City Council holds the
information you are seeking.

 

1. How much money has VESL (or PCC on behalf or in anticipation of VESL)
spent from before it was incorporated (an estimate for this period would
suffice) and from incorporation to date, including but not limited to all
monies paid by PCC to sub-contractors and employees (to within 5%).

 

2. What were the remaining liabilities at the point the decision to close
the business was made

 

3. Did PCC provide a financial guarantee to VESL (as in for example a
Parent Company Guarantee) and if so how was that approved and who approved
it, when, and what was the amount of the guarantee, and how were elected
members informed of the guarantee.

 

Our response

 

1a. Spending to research, prepare and evaluate the Business Case for VESL
prior to incorporation was £94,000

1b. Financial support from Portsmouth City Council to VESL from
incorporation to date was £3.3m - this was provided as a loan and
therefore remains the largest liability of VESL (see response to Qu. 2
below)

 

2. Remaining liabilities at the point of closure were £3.449m, of which
£3.3m is to Portsmouth City Council (the loan described in Qu.1a above)

 

3. Portsmouth City Council did not provide any financial guarantees to
VESL

 

 

In accordance with the Re-use of Public Sector Information Regulations
2015, this information may not be re-used without permission from
Portsmouth City Council.

 

Portsmouth City Council in complying with its statutory duty under
sections 1 and 11 of the Freedom of Information Act to release the
enclosed information, will not breach the Copyright, Designs and Patents
Act 1988. However, the rights of the copyright holder of the enclosed
information will continue to be protected by the law. If you wish to use
this information, you may require approval or licence from the copyright
holder.

 

You have the right request an internal review of this outcome or to
complain about our treatment of your request. If you wish to do so, please
set out in writing your grounds of complaint and send to the Corporate
Information Governance Officer at Portsmouth City Council, Civic Offices,
Guildhall Square, Portsmouth, Hampshire, PO1 2AL, telephone 023 9283 4385,
e-mail [email address].

 

Should you be dissatisfied with the outcome of the complaints decision you
may wish to follow the Portsmouth City Council’s Compliments and
Complaints procedure which can be found on the Portsmouth City Council
website or by contacting the Civic Offices.

 

If you are dissatisfied with the outcome of the internal review or you
have any other concerns, you may wish to contact the Information
Commissioner at:

 

Information Commissioner's Office

Wycliffe House

Water Lane

Wilmslow

Cheshire

SK9 5AF

Telephone: 0303 123 1113

https://ico.org.uk

 

Yours sincerely

Sharlotte Hughes

Information Governance Specialist

 

Portsmouth City Council

Civic Offices

Portsmouth

PO1 2BQ

 

T: 023 9288 2659

E: [2][email address]

E: [3][Portsmouth City Council request email]

[4]www.portsmouth.gov.uk

 

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