When Scottish Enterprise entered into an agreement with Scottish Coal (Deep Mine) Ltd to provide a guarantee to underwrite bank borrowings …

Answered Asked by Tricia Marwick SNP Lodged 15 May 2002

The question

To ask the Scottish Executive when Scottish Enterprise entered into an agreement with Scottish Coal (Deep Mine) Ltd to provide a guarantee to underwrite bank borrowings and whether this agreement was approved by ministers.

The answer

Answered by Iain Gray on 29 May 2002 · 14 days after it was lodged, on time

In June 1999, Scottish Enterprise provided a guarantee to underwrite £5.4 million of bank borrowing by Scottish Coal (Deep Mine) Ltd in order to allow the company to continue trading. The provision of the guarantee was approved by Scottish Office ministers. Subsequent adjustments in the amount of the guarantee were approved by Scottish Executive ministers.

In the Official Report

No contribution in the Official Report cites S1W-25908 by reference.