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Mega Turbines - North of Lerwick


icepick239
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The debt lies with neither, IMHO.

 

Westminster never signed any letter agreeing to fund the building of the houses. Had Shetland stood firm and said "Well, we have no funds to build these houses and therefore cannot", then either the oil companies or the Government would have had to. So you can't ask Westminster to pay for something that was never agreed to in writing.

 

Who does Shetland owe money to? It lent money to itself, didn't it, or didn't the Shetland Charitable Trust (or whatever they were called back then) lend the money to Shetland Islands Council? So in essence, Shetland owes money to Shetland.

 

This debt is time barred. If it went to Court, isn't it the case that due to the period of time that has elapsed, they couldn't get the money?

 

So if this was a car and Fred Blogs said "If you buy this car, I'll use it as a taxi and you'll get lots of money in return" but didn't put anything in writing; you went out and bought the car only for Fred Blogs to say "I've changed my mind" - who would owe you money? NO ONE.

 

Perhaps I've totally misunderstood the situation but that's the way I understand it.

 

I don't get this big campaign in The Shetland Times. I don't recall where they mention the name of the lender. What was the interest rate? Did they ever go to Court/reach an agreement freezing the interest? Or is it that the SCT paid the interest to the lender and it isn't, as I understand it, that the SCT lent the money to the SIC?

 

I personally won't be swayed by such lack of information in the local press - I want facts, hard facts, and somebody, somewhere, should be doing a Freedom of Information Act Request getting ALL of the paperwork out of the SIC. Because let's face it, there is NOTHING in writing from Westminster stating they would be paying £X and if they did, then why the hell aren't they waving it in front of our noses? Cos it don't exist, that's why. A Government would have had solicitors drawing up financial agreements left, right and centre, terms, etc., - where are they? My money is on that they don't exist. Giving a verbal indication is not the same as a written undertaking.

 

The whole thing is a bloody fiasco of a paper exercise.

 

Edit: Further, how much interest has accrued? If it is a case that only the minimal payments have been made, and had this gone to Court, there would be nowhere near the amount of interest now outstanding as the interest would probably have been waived/the whole sum paid off by now or assets equalling the sums due would have been seized. (If you owe money on a credit card, you enter into a VPA and interest is frozen - commercial debts act pretty much in the same way - you reach agreement with those you owe money to)

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Inform Holyrood, Mega Turbines ONLY after the 40 Million Housing Debt is settled.

Simples 8)

 

Refuse development and the chance to move forward?

 

I reckon we should be angling for the best deal, not blocking potential outside investment.

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I agree Paul. The debt, be it a paper exercise or not, it is still real. Perhaps those questioning it should find out for themselves instead of waiting for others furnishing them with the facts.

Test turbines should go ahead. There are far few straws left to hang onto for some.

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Test turbines should go ahead. There are far few straws left to hang onto for some.

 

So few straws left due to the land sites drying up so the developers are having to go offshore in order to milk what is left in the form of grants.

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Whit the true story of this 40 Million Pound Housing Debt is, I don't profes to know.

But one must wonder about the reckless, extravigant, wasteful use of Shetland's resources over the last few years, which may have had a serious and marked effect for the 'writing off of this debt'.

 

Be it Westminster, Holyrood, SCT who cares, but it needs to be sorted once and for all.

 

Or it's call in Trump :)

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So few straws left due to the land sites drying up so the developers are having to go offshore in order to milk what is left in the form of grants.

 

Yer, what ever!

 

Look forward to reading your FOI request on the Loan, which has cough all to do with this topic...still, money where mouth is, see if it matches what I know.

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