Janet Finch-Saunders, Member of the Welsh Parliament for Aberconwy, has spoken out about the money owed by Snowdonia Hotel Ltd, after a series of questions scrutinising the Welsh Government.
The administrator, Begbies Traynor, has released a Statement of Affairs for Snowdonia Hotel Ltd. It outlines how much the company owes creditors and the assets available to pay those debts.
There are 95 creditors, with the amount owed totalling £14.3m. The hotel is estimated to realise £7.13m, and the fixture and fittings: £200,000.
Welsh Government are owed £1.14m. They are estimated to receive around £349,000 back as the second ranked fixed charge holder.
Commenting on the financial situation, Janet said:
“We know for a fact that the Welsh Government has a charge against Snowdonia Hotel Ltd. However, in response to a chain of questions by me, Rebecca Evans MS, Cabinet Secretary for Economy, Energy, and Planning, has disclosed that the charge is not limited to the assets of Snowdonia Hotel Ltd and remains on the assets which did not relate to Snowdonia Hotel Ltd.
“Having questioned the situation further, the Cabinet Secretary has advised that the legal charge remains against the assets of Adventure Parc Snowdonia Ltd.
“I am now awaiting an explanation as to how and when the charge was transferred from Snowdonia Hotel Ltd to Adventure Parc Snowdonia Ltd, and what consideration has been given to calling in the finance owed by Adventure Parc Snowdonia Ltd to the Welsh Government.
“As I have commented on several occasions, changes are needed to how Welsh Government award taxpayers money to private enterprises”.
ENDS
Photo: Janet Finch-Saunders MS/AS
Written Question by Janet Finch-Saunders (Aberconwy): Further to WQ95442, is it the case that the Welsh Government is unable to act on the charge against Snowdonia Hotel Ltd because they have no remaining residual assets? (WQ95565)
Response from Rebecca Evans MS, Cabinet Secretary for Economy, Energy and Planning: “No, it is not the case. The charge is not limited to the assets of Snowdonia Hotel Ltd and it remains on the assets which did not relate to Snowdonia Hotel Ltd.”
