International Military Services: Legal Costs
(asked on 4th February 2020) - View Source
Question to the Ministry of Defence:
To ask the Secretary of State for Defence, how the International Military Services Ltd payment in respect of the court case in 2001 was accounted for in his Department’s financial statements of that year.
This question was answered on 10th February 2020
The Ministry of Defence's (MOD) 2001 Annual Report and Accounts includes IMS Ltd under section 9.1 Other Investments, against a sum of 19,999,999 non-preferential shares valued at £1 each. Note 9.3 makes it clear that IMS Ltd ceased trading on 31 July 1991 and will be liquidated following the settlement of outstanding contracts. MOD has written down the value of the investment to nil.