Plenary Answer: Asset Co/AB and A (3)
Asset Co/AB and A (3)
Question No: 105 / 2012
Andrew Dismore
What assurances have been given by AB and A Ltd that they have sufficient financial backing to meet the ongoing wages of staff employed by AssetCo?
Answer
The sale of AssetCo London Ltd and AssetCo Engineering Ltd to AB & A Investments Ltd was a sale of shares only and AssetCo London Ltd remains the contracting party. The Authority pays a Unitary Charge on a monthly basis for the services provided under the contract. This includes provision for AssetCo’s normal costs of running the business including the on going wages of staff employed by AssetCo.
James Cleverly AM (Chairman, LFEPA) & Ron Dobson (Commissioner, LFEPA)
