Asked by: Baroness Taylor of Stevenage (Labour - Life peer)
Question to the Department for Levelling Up, Housing & Communities:
To ask His Majesty's Government what assessment they have made of the collapse of Cheshunt Lakeside Developments Ltd with reported debts to Broxbourne Borough Council of over £1 million and to Homes England of £18.7 million; and what is the likelihood of recovery of those debts.
Answered by Baroness Scott of Bybrook - Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)
Local authorities are independent bodies and Broxbourne Borough Council's recovery of debt is in the first instance a matter for the council. Nonetheless, the Government stands ready to speak to any council that has concerns about its ability to manage its finances or faces pressures for which it has not planned.
Homes England is working closely with the insolvency administrators for Cheshunt Lakeside development site. The Agency is keen to see a workable solution that allows housing delivery to continue. Until the sale of the site has been concluded, the Agency is not able to comment on any potential loss in relation to its recoverable loan.