Loan approval for Sark to buy electricity firm delayed
BBCApproval of a loan facility so that Sark's government can buy Sark Electricity Ltd (SEL) under a compulsory purchase arrangement has been delayed after required paperwork was received later than expected.
The loan from the States of Guernsey had been due to be considered at the latest meeting of Chief Pleas, but the item was deferred before it could be agreed.
At the end of last year, Begbies Traynor was appointed as the valuer for the compulsory purchase.
A court date for valuation and methodology of the purchase will be set from 23 February, depending on availability of both parties. SEL's owner Alan Witney-Price previously said he had already begun legal proceedings against Chief Pleas.
By-election
The delay to the loan facility was initially expected to last only a few days, however, as it became clear it was going to be longer, the Policy & Finance Committee decided to postpone it.
It will now be brought to an Extraordinary Meeting of Chief Pleas following the island's by-election on 25 February.
Laws around compulsory purchases include a process for challenging such decisions.
Chief Pleas said: "After these are resolved and the valuation sum paid, SEL's assets and interests will transfer to Chief Pleas".
Follow BBC Guernsey on X and Facebook and Instagram. Send your story ideas to channel.islands@bbc.co.uk.
