Conseiller John Guille, chairman of the Policy & Finance Committee, updated the island’s government at this week’s Christmas meeting on the progress of the purchase and how it will be funded.
In December both parties consented to the appointment of Begbies Traynor as the valuer of the company.
The Seneschal’s Court is due to list a hearing to direct the company’s work sometime in late February or early March.
After any issues are resolved and the valuation sum is paid, the company’s assets and interests will transfer to Chief Pleas. The loan facility is ready to be agreed by Chief Pleas, but was pulled from the agenda of the January meeting because there was a delay in the required paperwork from third parties, which was received later than expected.
‘While the delay was initially anticipated to be only a few days, it extended further, and the committee therefore decided to defer the items and bring them instead to an extraordinary meeting of Chief Pleas,’ Conseiller Guille said.
It is now proposed that this meeting will take place after the by-election scheduled for 25 February.
Conseiller Guille said that a briefing will be organised for members of Chief Pleas to ask questions of Sark and Guernsey officials before this meeting.
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