Our Power administration: FOI release

Information requested

1. How much money has the Scottish Government received to date as a result of the administration process for Our Power Energy Supply Limited?
2. Has the Scottish Government been given any indication, or hold any estimate, on how much it expects to receive in future through the administration process?
3. Have Scottish Government officials conducted any reviews of the investment, as discussed in the letter of 3 August 2019 from Kevin Stewart (your ref: 2019/0020887), and if so please provide a copy of all the documents relating to the review itself and any subsequent actions of Scottish Ministers. Please include copies of all correspondence, documents, reports, minutes, letters and emails.
4. . If the answer to question 3 is no, have either ministers or officials discussed accelerating the Scottish Government’s investment review in light of the administrator’s intention to apply for an extension to the administration period to 30 January 2024, as reported here? Please include copies of all correspondence, documents, reports, minutes, letters and emails.
5. Further to the letter of 3 August 2019 from Kevin Stewart (your ref: 2019/0020887), please provide a copy of the (a) challenges set out by the Our Power management team, and (b) the views the Scottish Government received from other lenders, alongside any Scottish Government documents which discuss these. Please include copies of all correspondence, documents, reports, minutes, letters and emails.

Response

1. The administrators have distributed a total of £1.0 million to the secured lenders and this includes a dividend of £450,000 provided to the Scottish Government.
2. No. Progress reports by the administrator (KPMG) are published regularly and include the value of any remaining assets yet to be recovered. https://www.iainsolv.com/case+INTERPATH+OJ12943238.html
3. No. The Scottish Government has not completed a formal review as yet. The administration process has not concluded and is expected to provide relevant evidence as to how and why Our Power became insolvent.
4. No. The administration process has not yet been concluded and will provide relevant evidence about how and why Our Power became insolvent.

I enclose a copy of some of the information you requested. The challenges faced by the Our Power management team were set out in a statement to bond investors on 17th February 2019 issued by Our Power Community Benefit Society Ltd. Archived copies of this information may remain elsewhere in the public domain but I have attached a copy of this statement as retained by the Scottish Government.

Further information relevant to your request is published by KPMG, the administrator for the insolvency of Our Power Energy Supply Ltd. and Our Power Community Benefit Society Ltd. https://www.ia-insolv.com/case+INTERPATH+OJ12943238.html

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 under section 36(2) of FOISA applies to that information. The reasons why that exemption(s) applies are explained in the Annex to this letter.

This exemption is not subject to the 'public interest test', so we are not required to consider if the public interest in disclosing the information outweighs the public interest in applying the exemption.

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.

Annex - 202200320887

File type

1 page PDF

File size

83.6 kB

Our Power Bond Investor Communications 17 February 2019 SITR FINAL

File type

7 page PDF

File size

347.2 kB