It has given notice to both parties that a hearing to appoint a valuer for the company will be scheduled before Christmas.
Chief Pleas submitted an application to the Court of the Seneschal at the end of October to appoint a valuer of their choosing, after the two bodies unsurprisingly failed to jointly agree on a suitable candidate.
Chief Pleas said that the court had now issued directions to both the parties, asking Sark Electricity to file representations by 28 November, and for the island’s Policy & Finance Committee to respond by Friday 5 December.
The court said a hearing would then be scheduled for the first available date after 10 December.
If agreed or imposed on the parties, the independent valuer, understood to be corporate restructuring specialists Begbies Traynor, would then determine a binding value of Sark Electricity Ltd.
The two parties’ estimates of the company’s value are known to differ widely, with P&F chairman John Guille expecting it to be below £500,000 while SEL’s managing director, Alan Witney-Price, has said he had offers for the company of £2.4m.
Mr Witney-Price wrote to customers and conseillers of Chief Pleas maintaining the £2.4m. sale price and claiming that Sark’s government would be unable to afford it without further borrowing.
‘Chief Pleas are digging a hole that it cannot fill,’ he said.
‘We are confident in our position and if the court agrees with SEL that the existing price of £2.4m. should be paid, then the law does not allow for Chief Pleas to turn around and say we cannot afford that and walk away.
‘Chief Pleas must pay the money across in short order or SEL will be able to seize Sark’s assets as a civil debt.’
Sark’s 2026 Budget report revealed that Chief Pleas expected the compulsory purchase process to be completed by the end of September next year.
The update came as Chief Pleas reiterated its position on legal levies of around 60p a unit that SEL added to bills this September, which the government and others on the island have refused to pay.
It said the island’s sole power company had now announced that it intends to issue summonses to consumers who have not paid the additional fee.
‘It is the view of Chief Pleas that consumers should only be charged for costs directly related to the generation and distribution of electricity,’ a spokesman said.
‘It is not acceptable practice for legal costs to be paid in advance by consumers. Any attempt to enforce payment in court of these “levies” for properties owned by Chief Pleas will be opposed.’
He added that Chief Pleas recognised the ‘significant anxiety and concern that many residents of Sark were experiencing’.
He added that Chief Pleas’ priority remained to bring SEL’s assets into community ownership, and ensuring a ‘safe, reliable and affordable electricity supply for the people of Sark’.
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