Dear East Sussex County Council,

1. How many Lender Option Borrower Option (LOBOs) contracts do you have on your books?

2. When were they signed and by whom?

3. With which financial institutions were they taken out?

4. Who advised the council to enter the LOBO(s)?

5. Since each Contract has been signed, has the lender exercised their option and changed the interest rate?

6. If so, please specify the dates of the interest rate changes and the revised interest rates.

7. Please provide a copy of the original, signed LOBO agreements.

Yours faithfully,

Jamie Griffiths

Freedom of Information, East Sussex County Council

 

 

Dear Mr Griffiths

 

FOI Request ref:  5407 / Lender option borrower option loans (LOBO)

 

Thank you for your request for information about the above. Your request
was received on 30/3/2015 and I am dealing with it under the terms of the
Freedom of Information Act 2000.

We always aim to respond as quickly as possible, and in this case will do
so no later than 29/4/2015, which is the 20 working day deadline. The
deadline is counted from the first working day we receive it, not the date
a letter is written / posted or an email sent.

In some circumstances a fee may be payable and if that is the case, I will
let you know. A fees notice will be issued to you, and you will be
required to pay before we proceed in dealing with your request.

Please quote the above reference number in any communication regarding
this request.

 

Yours sincerely

 

Amilia Holland

Customer Information Adviser

 

East Sussex County Council

Communities Economy and Transport Directorate

W1D, County Hall

St Anne’s Crescent

Lewes

East Sussex BN7 1UE

 

Phone: 01273 482913
Fax: 01273 481208

email: [1][East Sussex County Council request email]   web: [2]www.eastsussex.gov.uk/foi

P  please consider the environment - do you really need to print this
email

 

 

This message is intended for the use of the addressee only and may
contain confidential or privileged information. If you have received it in
error please notify the sender and destroy it. You may not use it or copy
it to anyone else.

E-mail is not a secure communications medium. Please be aware of this
when replying. All communications sent to or from the County Council
may be subject to recording and/or monitoring in accordance with
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Although East Sussex County Council has taken steps to ensure that this
e-mail and any attachments are virus free, we can take no responsibility
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appropriate checks are made.

You can visit our website at http://www.eastsussex.gov.uk

References

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1. mailto:[East Sussex County Council request email]
2. http://www.eastsussex.gov.uk/foi

Freedom of Information, East Sussex County Council

 

 

Dear Mr Griffiths

 

FOI Request ref:  5407 / Lender option borrower option loans (LOBO)

 

I can advise that we have assessed the information that you have
requested and have concluded that some of it is exempt from disclosure
under the Freedom of Information Act 2000 (FOIA). Our authority to
withhold such information comes from Section 31 FOIA.

 

Section 31 FOIA is not an absolute exemption and before we can rely upon
it we are required to weigh the public interest in having access to the
information against the public interest in us withholding it. We are
permitted up to 20 working days to carry out this public interest test. We
will therefore provide you with our final response by 27/5/2015, which is
the 20 working day deadline.

 

Should you have any concerns or queries, please do not hesitate to contact
me.

 

Yours sincerely

 

Amilia Holland

Customer Information Adviser

 

East Sussex County Council

Communities Economy and Transport Directorate

W1D, County Hall

St Anne’s Crescent

Lewes

East Sussex BN7 1UE

 

Phone: 01273 482913
Fax: 01273 481208

 

This message is intended for the use of the addressee only and may
contain confidential or privileged information. If you have received it in
error please notify the sender and destroy it. You may not use it or copy
it to anyone else.

E-mail is not a secure communications medium. Please be aware of this
when replying. All communications sent to or from the County Council
may be subject to recording and/or monitoring in accordance with
relevant legislation.

Although East Sussex County Council has taken steps to ensure that this
e-mail and any attachments are virus free, we can take no responsibility
if a virus is actually present and you are advised to ensure that the
appropriate checks are made.

You can visit our website at http://www.eastsussex.gov.uk

Jamie Griffiths left an annotation ()

Section 31 is the 'law enforcement' section.

Freedom of Information, East Sussex County Council

4 Attachments

Dear Mr Griffiths

 

FOI Request ref:  5407 / Lender option borrower option loans (LOBO)

 

Thank you for your request for information about the above, which has been
dealt with under the terms of the Freedom of Information Act 2000 (FOIA).
Your request and our response are set out below. Please note that any
information we provide is subject to the copyright and reuse of
information terms and conditions set out at the bottom of this email.

 

REQUEST

 

1. How many Lender Option Borrower Option (LOBOs) contracts do you have on
your books?

 

2. When were they signed and by whom?

 

3. With which financial institutions were they taken out?

 

4. Who advised the council to enter the LOBO(s)?

 

5. Since each Contract has been signed, has the lender exercised their
option and changed the interest rate?

 

6. If so, please specify the dates of the interest rate changes and the
revised interest rates.

 

7. Please provide a copy of the original, signed LOBO agreements.

 

RESPONSE

 

1.       Four

 

2.        

October 2005 – Deputy Director of Corporate Resources Directorate

October 2008 -    Deputy Director of Corporate Resources Directorate

March 2010 - Deputy Director of Corporate Resources Directorate

March 2010 - Deputy Director of Corporate Resources Directorate

 

3.        

 

Eurohypo Europaische Hypothekenbank

Barclays

RBS

RBS

 

4.       LOBO’s were borrowing options as part of our approved TM strategy

 

5.       No

 

6.       N/A

 

7.       Please find attached the agreements that you have requested. Some
small redactions have been made to the documents and our authority to do
this comes from Section 31 FOIA and Section 40(2) FOIA.

 

The exemption at Section 40 provides that third party personal data may be
removed from requested information. We have therefore redacted names and
any other identifying information from the documents. Section 40 is an
absolute exemption.

 

Section 31 FOIA is designed to ensure that the prevention or detection of
crime is not prejudiced by the release of information under the Act. There
is some overlap in the requested information between Section 31 and
Section 40 FOIA and consequently, we have also removed the following under
Section 31.

 

-Contact Names  (council officers, bank officials)

-Signatures (of above)

-Addresses and contact numbers

-Any bank account information

 

Our rationale for relying upon Section 31 FOIA is as follows. Recent years
have seen a significant rise in the number of cases where fraudsters have
successfully taken on the identity of bona fide customers and occasionally
even their business. This is called ‘Identity Fraud’. It is important for
Local Authorities to be aware of the nature of this threat and take steps
to minimise its impact. Certain types of business information can create a
‘feeling’ of immediacy for response and exploiting this situation can
provide a potential fraudster with anonymity and a quick route to success.
It can be easy to inadvertently forget to exercise the appropriate level
of care and attention when dealing with enquiries for information from
other parties. The various redactions have taken place to protect East
Sussex County Council’s finances.

 

Section 31 FOIA is not an absolute exemption and before we can rely upon
it we are required to carry out a public interest test. In effect we must
weigh the public interest in us releasing the information against the
public interest is us withholding it. We have now completed a public
interest test regarding the withheld information.

 

We acknowledge that there is a public interest in the disclosure of much
of the information held by public authorities. This serves to ensure
transparency and accountability in the use of public money and the way
services are provided. Such transparency promotes public understanding. An
informed and involved public helps to promote good decision making by
public authorities; thus helping to secure the best use of public
resources.

 

However there are occasions where it is appropriate not to release
information upon request. When considering requests for information where
a qualified exemption has been applied, we have to recognise that
disclosure under the Freedom of Information Act is considered to be made
to the public at large and not just to the individual requester. We have
taken into account that the requester’s private interests are not in
themselves the same as the public interest and that what may serve those
private interests does not necessarily serve a wider public interest.
Also, that what may be of interest to the public should be distinguished
from what is in the public interest.

 

We have considered this issue and have concluded it is in the public
interest that the County Council’s finances are protected from potential
compromise and that the public authority is able to maintain it’s
services. The County council uses large sums of public money to carry out
the numerous functions required of it and it is in the public interest to
ensure that those funds are protected from potential fraud. We will not be
releasing this information.

 

 

I hope that this answers your enquiry. If you believe that the County
Council has not complied with the FOI Act in responding to your request,
you may ask for an internal review. If you wish to do so, please set out
the grounds of your appeal in writing to:

 

Philip Baker, Assistant Chief Executive, East Sussex County Council,
County Hall, St Anne’s Crescent, Lewes, East Sussex. BN7 1UE.

or by email to him at [1][email address]

 

Please quote the FOI reference number in any communication regarding this
particular request.

 

If you are not content with the outcome of the internal review, you then
have the right to apply directly to the Information Commissioner for a
decision. Generally, the Information Commissioner cannot make a decision
unless you have exhausted the County Council’s internal review procedure
as described in the previous paragraph. The Commissioner can be contacted
at: Information Commissioner's Office, Wycliffe House, Water Lane,
Wilmslow, Cheshire, SK9 5AF. Tel: 0303 123 1113.  [2]www.ico.org.uk

 

Yours sincerely

 

Jeremy Coleman

Customer Information Officer

East Sussex County Council

Communities, Economy and Transport

W1D, County Hall

St Anne’s Crescent

Lewes

East Sussex BN7 1UE

 

Phone: 01273 482913

email: [3][East Sussex County Council request email]   web: [4]www.eastsussex.gov.uk/foi

P    please consider the environment - do you really need to print this
email

 

 

 

Copyright and Re-Use of information

1. Providing you with documents under the Freedom of Information Act does
not give you an automatic right to re-use those documents in a way that
would infringe copyright – for example by making multiple copies, or by
publishing / issuing copies to the public.

2. Copyright in the information is owned by East Sussex County Council
and/or its contractor(s) unless otherwise stated. Brief extracts of the
material can be reproduced under the “fair dealing” provisions of the
Copyright Design and Patents Act 1988 (S.29 and S.30) for the purposes of
research for non-commercial purposes, private study, criticism, review and
news reporting.

3. We do not give permission for this information to be used for the
purposes of direct marketing.

4. If you wish to use this information then, in accordance with the
Regulations on the Re-use of Public Sector Information 2005, you must
first ask our permission. Such re-use may or may not involve the granting
of a licence and the application of a Fee.

 

 

 

 

This message is intended for the use of the addressee only and may
contain confidential or privileged information. If you have received it in
error please notify the sender and destroy it. You may not use it or copy
it to anyone else.

E-mail is not a secure communications medium. Please be aware of this
when replying. All communications sent to or from the County Council
may be subject to recording and/or monitoring in accordance with
relevant legislation.

Although East Sussex County Council has taken steps to ensure that this
e-mail and any attachments are virus free, we can take no responsibility
if a virus is actually present and you are advised to ensure that the
appropriate checks are made.

You can visit our website at http://www.eastsussex.gov.uk

References

Visible links
1. mailto:[email address]
mailto:[email address]
2. http://www.ico.org.uk/
3. mailto:[East Sussex County Council request email]
4. http://www.eastsussex.gov.uk/foi

Jamie Griffiths left an annotation ()

Advisors not named.

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