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Uncle Joe
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16-03-2019, 08:44 AM
1

Hmmm - Did we pay for this???

So Interserve have been saved from insolvency with an immediate cash injection of £110 Million and has been sold. No mention of who it was sold to, neither does the article reporting this mention who has paid the £110 Million. Given the extent of the Government's contracts with this company , could it be that 'we' have paid this £110 Million to prop up yet another failing company???


https://www.aol.co.uk/news/2019/03/1...ash-injection/
gumbud
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16-03-2019, 09:01 AM
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Re: Hmmm - Did we pay for this???

Originally Posted by Uncle Joe ->
So Interserve have been saved from insolvency with an immediate cash injection of £110 Million and has been sold. No mention of who it was sold to, neither does the article reporting this mention who has paid the £110 Million. Given the extent of the Government's contracts with this company , could it be that 'we' have paid this £110 Million to prop up yet another failing company???


https://www.aol.co.uk/news/2019/03/1...ash-injection/
well UJ it's either gotta be a govt bail out OR a private business venture who wish to remain anonymous?? take ya pick
Julie1962
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16-03-2019, 12:46 PM
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Re: Hmmm - Did we pay for this???

I would guess they can't really let another fail, not that I think they want to save jobs but they can't be seen as again doing business with a dud contractor.
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fender
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16-03-2019, 12:52 PM
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Re: Hmmm - Did we pay for this???

I think it's something to do with reducing debt by issuing more shares. So it's the shareholders suffering as far as I'm aware.
I don't think the gov / taxpayer is bailing them out at this time.
Uncle Joe
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16-03-2019, 01:16 PM
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Re: Hmmm - Did we pay for this???

Originally Posted by Julie1962 ->
I would guess they can't really let another fail, not that I think they want to save jobs but they can't be seen as again doing business with a dud contractor.

Too late Julie darlin' - one of the ferry companies is suing Grayling for his incompetence relating to arranging extra ferry services in the event of a 'no deal' Brexit.
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The Artful Todger
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16-03-2019, 02:11 PM
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Re: Hmmm - Did we pay for this???

Grayling? My days, what a suitable case for treatment HE is. But then again,why has he not been stuck on the Back Benches?
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16-03-2019, 02:16 PM
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Re: Hmmm - Did we pay for this???

It seems to me that most of these public/private partnerships are schemes to start a business at the expense of the state and to then continue to profit by doing business with the state often using state owned assets to do this.The reasons given for this are usually better efficiency,Look how well the railways are doing
Best regards.Donkeyman.
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16-03-2019, 02:19 PM
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Re: Hmmm - Did we pay for this???

Originally Posted by The Artful Todger ->
Grayling? My days, what a suitable case for treatment HE is. But then again,why has he not been stuck on the Back Benches?
Theresa might still need his vote. Regards,Donkeyman.
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16-03-2019, 08:18 PM
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Re: Hmmm - Did we pay for this???

Originally Posted by gumbud ->
well UJ it's either gotta be a govt bail out OR a private business venture who wish to remain anonymous?? take ya pick
Inclined to agree with you there gumbud. It's odds on that it is the government that's bailed them out. What with Brexit, they certainly can't afford to be seen as the overlords of yet another huge private contractor going belly up under their watch.
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16-03-2019, 08:58 PM
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Re: Hmmm - Did we pay for this???

Neither a private business or the Government have bailed them out as yet.
They have used reallocation of debt and issued more shares.
At this time it's the shareholders who have taken the brunt of it.
 
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