LOBO loans
Dear Northamptonshire 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
Dear Mr Griffiths,
Freedom of Information Request: FR5580
Apologies for the delay in my reply whilst I made enquiries regarding your request. I am now writing to acknowledge your request for information dated 09/03/2015, received by us on 10/03/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference FR5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Freedom of Information Request: FR5612
Apologies for the delay in my reply whilst I made enquiries regarding your request. I am now writing to acknowledge your request for information dated 09/03/2015, received by us on 10/03/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference FR5612 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
It has come to my attention that your request has been logged twice in error.
We will be replying to you under reference FR5580 and so would be grateful if you could ignore my email below.
Please accept my apologies for any inconvenience caused.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Please see attached.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[1]www.northamptonshire.gov.uk
[2]Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. http://www.northamptonshire.gov.uk/
Dear Northamptonshire County Council,
Please pass this on to the person who conducts Freedom of Information reviews.
I am writing to request an internal review of Northamptonshire County Council's handling of my FOI request 'LOBO loans'.
In response to part 7 ("Please provide a copy of the original, signed LOBO agreements.") the Council has invoked Section 43 of the Freedom of Information Act 2000 and applied an exemption. I feel that both the prejudice test and the public interest test have been applied incorrectly.
Firstly, it has not been made clear under which part of Section 43 the exemption is being made.
Part (1) is inappropriate since the LOBO contracts do not constitute trade secrets: other authorities have responded to similar FOI requests with disclosure of contracts which means that LOBO contracts from all the lenders named are already in the public domain.
Part (2) is inappropriate since the borrowing activity of the Council is a financial activity carried out only in order to support its main activities and not a commercial activity. If the Council feels that disclosure would prejudice its financial interests and that this would result in prejudice to its commerical interests then then this must be supported by reasoned
argument as per the MoJ guidance on Section 43:
"It is important to note, however, that a simple assertion by an individual or body that there would be prejudice to his or its interests is not sufficient. The assertion must be supported by reasoned argument, and where practicable by empirical evidence. In particular it is not sufficient for a body simply to mark a document commercial in confidence for the information in it to be exempt."
The council has also failed to apply the public interest test appropriately. It has provided no evidence of any general or specific public interest in disclosure that weighs against the interest in non-disclosure. Both types of public interest in disclosure exist:
- Generally, there is a public interest in disclosure in order to ensure there is transparency in the accountability of public funds
- Specifically, there is a public interest in disclosing the LOBO loan agreements because LOBO loans are very long term loans and also complex financial instruments with embedded derivatives which could adversely affect the Council's financial position and endanger its ability to carry out essential services. There is also considerable likelihood that they represent poor value for money when compared with PWLB loans over the same period. In order to assess the fair value of the loans and make the true financial position of the Council publicly known it is essential that the contracts are disclosed.
I accept that the contracts may contain information which is confidential for other reasons (e.g. signatures, bank account details) but please note that other UK local authorities have provided LOBO loan agreements with this information redacted.
A full history of my FOI request and all correspondence is available on the Internet at this address: https://www.whatdotheyknow.com/request/l...
Yours faithfully,
Jamie Griffiths
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths,
Review Request: R5580
I am writing to acknowledge your request for a review of FR5580 dated 20/05/2015, received by us on 21/05/2015.
Our team is dealing with your request and we will be in contact with you soon. If you have any queries about this email, please contact me quoting the reference R5580 in any future communications.
You should expect a further response within 20 working days.
Kind regards
Sarah Jobling
Senior Administrator
Freedom of Information/Data Protection Team
Business Intelligence and Performance Improvement
Northamptonshire County Council
Tel: 01604 368360
[email address]
www.northamptonshire.gov.uk
Dear Mr Griffiths
Please see attached reply letter in 1 of 4 emails.
Unfortunately the response will need to be sent as four separate emails as
the attachment size won’t allow me to send as one.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
Please see attached 4 of 4.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
Dear Mr Griffiths
I have had undeliverable on my disclosures to you; I have split them down
further to endeavour to allow them to send.
Attached 1.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
Attached 4.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
Attached 2.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
Attached 6.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
Attached 7.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
Attached 3.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
Attached 5.
Kind regards
Gillian Hollowell
Senior Freedom of Information/Data Protection Officer
Business Intelligence and Performance Improvement
Northamptonshire County Council
Room 223
County Hall
Northampton NN1 1ED
Tel: 01604 367407
Fax: 01604 367004
Wednesday a non working day
[1][email address]
[2]www.northamptonshire.gov.uk
[3]NEW Wordle alternative
Communications via the GSi may be automatically logged, monitored and/or
recorded for legal purposes.
References
Visible links
1. mailto:[email address]
2. http://www.northamptonshire.gov.uk/
N Dunbar left an annotation ()
The quality of the scanning of the documents is so low as to make their use for purposes of transparency questionable. There are option dates missing from three contracts (Barclays 19/8/05, 572 Eurohypo, 554 Eurohypo) and of 3 RBS loans two are copied twice and one is missing all the key details.
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Jamie Griffiths left an annotation ()
Contracts and names of treasury advisors withheld.