New information has come to light that suggests that any promises UK Coal plc make about providing Community Benefits when it works Opencast Sites need to be backed up with the assurance that a Banker's Guarantee underwrites that promise.
More Woeful Financial News about UK Coal plc.
The Minorca Opencast Protest Group has just published new information that substantiates claims already made about the requirement that UK Coal plc be asked to provide Banker’s Guarantees if they are granted planning permission to work the Minorca Site. A new edition of their “UK Coal plc’s Financial Situation and the Minorca Application” 3rd Edition (C1) provides new evidence on why this is necessary.
This Briefing Note now contains new items from this year. These reveal that the Company’s debt position may still be extremely grave, and possibly beyond the position in 2010 where the Company’s Auditors had to qualifying the Company’s results. It also reveals that pensioners in the Company’s Pension scheme have been warned about the possibility of the Company becoming insolvent. An analysis of this new information suggests that the Company is possibly even closer to the point when it can no longer be considered a ‘going concern’. It also indicates why this new financial information about UK Coal plc is relevant to the Minorca Surface Mine Application.
This document can be downloaded for free from
http://www.leicestershirevillages.com/measham/mopg-briefing-notes-series.html
In addition, there are two press releases that emphasise different aspects of the Briefing Note:
PR 94 “UK Coal and possible ‘consequences of insolvency’ “and
PR 95 “Is the financial state of UK Coal beginning to unravel”?
Both of which can be accessed @
http://www.leicestershirevillages.com/measham/most-recent-press-releases.html
The Minorca Opencast Protest Group has just published new information that substantiates claims already made about the requirement that UK Coal plc be asked to provide Banker’s Guarantees if they are granted planning permission to work the Minorca Site. A new edition of their “UK Coal plc’s Financial Situation and the Minorca Application” 3rd Edition (C1) provides new evidence on why this is necessary.
This Briefing Note now contains new items from this year. These reveal that the Company’s debt position may still be extremely grave, and possibly beyond the position in 2010 where the Company’s Auditors had to qualifying the Company’s results. It also reveals that pensioners in the Company’s Pension scheme have been warned about the possibility of the Company becoming insolvent. An analysis of this new information suggests that the Company is possibly even closer to the point when it can no longer be considered a ‘going concern’. It also indicates why this new financial information about UK Coal plc is relevant to the Minorca Surface Mine Application.
This document can be downloaded for free from
http://www.leicestershirevillages.com/measham/mopg-briefing-notes-series.html In addition, there are two press releases that emphasise different aspects of the Briefing Note:
PR 94 “UK Coal and possible ‘consequences of insolvency’ “and
PR 95 “Is the financial state of UK Coal beginning to unravel”?
Both of which can be accessed @
http://www.leicestershirevillages.com/measham/most-recent-press-releases.html
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