EXCLUSIVE: County Hall steps in to rescue Corserv from insolvency

Posted By on 30th May 2020

By Anne North Cornwall Council has stepped in with an emergency bail-out loan to rescue its own company Corserv, which was on the brink of financial collapse. The council’s leader,…

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This article has 5 comments

  1. Told them so.

    Too many chiefs & not enough Indians, this top heavy monolith has been part of the system that is destroying Cornwall.

    As for Cornwall Development Company, how spectacularly unsuccessful that has been.

    Put the whole festering mess into receivership and recognise that incompetence and arrogance on the scale that Cornwall Council has created does not make a successful business model.

  2. Mr Sands we are no longer anything to do with the evil EU. So they are of no importance to us. But what this proves is that there is no member of staff in CC capable of running a proper business. The new councillors many of whom are actual business people must be going mad.
    The air port on the other hand is a very large busy military base, and should be being funded by the MOD not us.

    • Your points are well understood and agreed by me; however, under the transition agreement the UK is still bound by all of the EU laws until 31 December 2020 or until such time as a new agreement or no agreement replaces the same.

  3. I believe that any such subsidies or loans to Corserv and/or its subsidiaries come under the European Union competition law Article 107 of the Treaty on the Functioning of the European Union and, as such, if the outcome of this funding distorts competition or the free market, it is classified by the European Union as being illegal state aid. Have these sums of money whatever they may be, been formally cleared with the EU otherwise they may well be illegal payments?

  4. A simple question why bother, if it’s losing money let it go. Don’t turn round and blame the government in the future when County Hall starts to run out of money because it’s propping up another lost making company. It’s like throwing money into a big black hole, let it go.

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