Council Bankruptcy
Council Bankruptcy
Sunderland Council may be going bankrupt soon so what will this effect the 700/1, 18/35A, I know they get their money from Nexus but surely SCC give them funds
(name is Council Bankruptcy as DCC and Gateshead etc may go bankrupt too nothing on them yet, but just so it can all go into 1 thread)
(14 Sep 2023, 4:26 pm)Adrian Since when? Where are you getting this from?
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(14 Sep 2023, 4:26 pm)Adrian Since when? Where are you getting this from?
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(14 Sep 2023, 4:46 pm)Andreos1 https://www.chroniclelive.co.uk/news/nor...n-27704698
This? Possibly? It mentions Sunderland Council and bankruptcy.
(14 Sep 2023, 4:46 pm)Andreos1 https://www.chroniclelive.co.uk/news/nor...n-27704698
This? Possibly? It mentions Sunderland Council and bankruptcy.
(14 Sep 2023, 6:05 pm)Adrian Ah, ok. I hadn't read that, but had read about the Birmingham issue.Not but if they do go Bankrupt theyll only be able to use their funds or lack there of on emergency/important things..but service isnt really one of them
I think it's going to be a problem for a lot of councils up and down the country. Even with pre-2010 levels of reserves, they'd struggle to deal with the size of some of these potential claims.
Either way, I think the 700/701 will be the least of their worries!
(14 Sep 2023, 6:05 pm)Adrian Ah, ok. I hadn't read that, but had read about the Birmingham issue.Not but if they do go Bankrupt theyll only be able to use their funds or lack there of on emergency/important things..but service isnt really one of them
I think it's going to be a problem for a lot of councils up and down the country. Even with pre-2010 levels of reserves, they'd struggle to deal with the size of some of these potential claims.
Either way, I think the 700/701 will be the least of their worries!
It's not bankruptcy but a freeze on new spending. You would imagine therefore that rolling contracts are honored.
