Decision details

It is recommended that the Lead Cabinet Member agrees to write off the debt of £40,383.18 in respect of Sven Investments Ltd.

All reasonable efforts to recover the debts have been attempted and have proved unsuccessful.  There is no likelihood of the debts being recovered and it is appropriate to write it off at this time to ensure good accounting practice.

Authorise the write off of the debt as set out in the report dated 3^rd February 2020.

All reasonable efforts to recover the debts have been attempted and have proved unsuccessful.  There is no likelihood of the debts being recovered and it is appropriate to write it off at this time to ensure good accounting practice.

Option A - Proceed to reinstate the company, with a view to then winding up the company to realise the assets. Given the very limited value of the assets, and the costs involved in such action, there is very little prospect that the debt would be recovered by such action.