Written Question · S1W-25907 · Session 1
Further to the answers to questions S1W-24906 and S1W-24907 by Iain Gray on 13 May 2002, whether the original agreement to act as guarantor…
The question
To ask the Scottish Executive, further to the answers to questions S1W-24906 and S1W-24907 by Iain Gray on 13 May 2002, whether the original agreement to act as guarantor was between Scottish Enterprise and Scottish Coal and not with the subsidiary company Scottish Coal (Deep Mine) Ltd.
The answer
The guarantee referred to was given to the Royal Bank of Scotland by Scottish Enterprise in respect of bank borrowing by Scottish Coal (Deep Mine) Ltd. The guarantee documentation was agreed by Scottish Enterprise and the Royal Bank of Scotland. The agreement relating to the provision of a guarantee for Scottish Coal (Deep Mine) Ltd was between Scottish Enterprise, Mining (Scotland) Ltd, and Scottish Coal (Deep Mine) Ltd.
In the Official Report
No contribution in the Official Report cites S1W-25907 by reference.