We ask that Woking Borough Council appoint an oversight
committee to determine if there have been material breaches of the
£250m Loan Agreement with Goldev Woking Ltd.
The reason for this request is that there have been two changes that appear to be in breach of the Loan Agreement. Council Tax payers have tried eliciting replies from WBC Finance Department however the department repeated fails to reply.
The material changes to be considered are a) the ownership of the Borrower "Goldev Woking Ltd" has changed materially since the Loan Agreement was struck and appears to breach "18.6 Material adverse changes" b) in breach of the Loan Agreement Section 19.9 Goldev Woking Ltd has taken on board Security with Frith Holdings Ltd. The only security should be WBC acting as the only beneficiary in the event of difficulties.
As stated above in light of this we ask that an oversight committee be appointed and if they feel appropriate that the Loan Agreement is voided.
This Paper petition ran from 25/04/2021 to 25/05/2021 and has now finished.
116 people signed this Paper petition.
Petition update from the council, 26 May 2021
Thank you for submitting your petition regarding Goldev Woking.
This petition has been referred to the meeting of the Executive as the number of signatures received through the petition exceeds the threshold required for a petition to be referred to a meeting of the Executive.
The next meeting of the Executive is to be held on 17 June 2021
at 7.00pm at the Civic Offices, Gloucester Square, Woking. The
meeting will be open to Members of Public and a live webcast will
be shown through the Council's website. The agenda will be
published a week before the meeting".