Questions concerning Ferguson Marine bonds: FOI release

Information requested

1. How many bonds are there and what was their value.

2. Why was the value of the bond not redacted from information provided by the Scottish Government.

3. The value of the settlement amount paid by HCC International Insurance Company plc (HCCI) to Caledonian Maritime Assets Limited (CMAL). Copies of all correspondence to and from CMAL in relation to the bond, securities over the assets of Ferguson Marine and documenting CMALs decision to accept the settlement over calling the bonds.

Response

There were two bonds, each valued at £12,125,000.

Refund Guarantee No BS/LO/00830 issued by HCC International Insurance Company plc in favour of Caledonian Maritime Assets Limited dated 2nd November 2016 in respect of Hull Number 801; and Refund Guarantee No: BS/LO/00829 issued by HCC International Insurance Company plc in favour of Caledonian Maritime Assets Limited dated 2nd November 2016 in respect of Hull 802.

Some of the information you have requested is available from the Scottish Government website at https://www.gov.scot/collections/ferguson-marine-documents/. Under section 25(1) of FOISA, we do not have to give you information which is already reasonably accessible to you. If, however, you do not have internet access to obtain this information from the website(s) listed, then please contact me again and I will send you a paper copy.

While our aim is to provide information whenever possible, in this instance we are unable to provide some of the information you have requested because an exemption(s) under section(s) 36(1) Confidentiality of Communications) of FOISA applies to that information. The reasons why that exemption(s) applies are explained in the Annex below.

ANNEX
REASONS FOR NOT PROVIDING INFORMATION
An exemption applies

An exemption under section 36(1) of FOISA (Confidentiality of Communications) applies to some the information requested because it is legal advice and disclosure would breach legal professional privilege. This exemption is subject to the ‘public interest test’. Therefore, taking account of all the circumstances of this case, we have considered if the public interest in disclosing the information outweighs the public interest in applying the exemption. We have found that, on balance, the public interest lies in favour of upholding the exemption. We recognise that there is some public interest in release as part of open and transparent government, and to inform public debate. However, this is outweighed by the strong public interest in maintaining the right to confidentiality of communications between legal advisers and clients, to ensure that Ministers and officials are able to receive legal advice in confidence, like any other public or private organisation.

About FOI

The Scottish Government is committed to publishing all information released in response to Freedom of Information requests. View all FOI responses at http://www.gov.scot/foi-responses.