THE administration of an energy firm Warrington Borough Council invested into is ‘expected to be finalised’ before the end of 2024, says a report.
It was reported in August that uncertainty continues to surround the fate of £18 million the council invested into the energy firm which collapsed – with the exact amount it will get back being ‘finalised’.
Together Energy announced it was to cease trading immediately in January 2022.
The council owned a 50 per cent stake in Together Energy after initially investing £18million in September 2019. It had also given a loan to the company.
An update was provided in a report on a review of non-treasury investments, for quarter one, which came before the council’s cabinet at its meeting on Monday.
It said: “The administration of Together Energy is nearing completion with settlement expected to be finalised before the end of 2024.”
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