Issue - meetings

Report of the GolDev Loan Agreement Task Group

Meeting: 24/03/2022 - Executive (Item 12)

12 Report of the GolDev Loan Agreement Task Group EXE22-032 pdf icon PDF 93 KB

Reporting Person – Joanne McIntosh and Tim Stokes

Additional documents:


Tim Stokes, Independent Person and Chair of the GoldDev Loan Agreement Task Group, presented a report on the Task Group’s findings.  The Task Group had been established to consider questions which had been raised through a petition considered by the Executive in June 2021, and to establish the status of the Loan Agreement and formulate the Council’s response to the petition.

The Task Group had received advice from the Council’s Monitoring Officer and independent advice from Matt Hutchings QC, and had concluded that GolDev had not been in breach of its obligations under the loan facility agreement.  The full opinion of the QC was appended to the report.


That the report be received.

Reason:   To note the findings of the Task Group.