Member Info for Consuela

Guess he didn't read the small print 🥴😂

It can now be revealed that the row centres on concerns that the support will breach domestic and European Union state aid rules, triggered partly by the company’s controversial plan to launch a new ferry service.

The service will compete with one already operated by the 104-year-old Isle of Scilly Steamship Group (ISSG), which has warned ministers that any support for Harland & Wolff would flout subsidy and competition laws.

Government lawyers are concerned that the loan guarantee would be regarded as an unfair intervention in this rivalry, risking a legal challenge or complaint to the Competition and Markets Authority, according to Whitehall sources.

There are also fears that the intervention would fall foul of the UK’s post-Brexit deal on state aid with Brussels. A French company is contracted to make new ships for ISSG.

A Whitehall source said: “Scilly will mount a legal challenge to any support.”

They added that there was a chance that Brussels “will say this violates state aid rules”, raising the risk of a showdown with the EU.

Lmao.....

Care to share what you wrote?

Tin foil hat brigade in full force today eh TDF?

Still confident about your £5 party? I know the date has passed when you said it would happen but hey ho. How about a -£5 party, more realistic I'd say.

Weather is fab isn't it.... May take the boat out.

Well you already have..... wee love.

What bits do you take issue with?

Bet not as daft as you feel being led up the garden path by Judy and JW.

Of course it's a loan!... proposed to be underwritten by the taxpayer when it fails plus interest.... be a brave person that signs that off.

They're not lies.

Not yet, depends if my predictions come true.

May, IM is an ongoing joke... dead in the water, as it always has been. Used as a vehicle to milk people like you. Bless yah.

Half the cash is to pay of Riverfort, hardly the accountability and responsibility of anyone else bar JW, that's more than likely where the challenge is sitting.....

Aww Bubble, your one liners are such a joy. How do you think JW is going to pay Riverfort their 100M by year end?.

The loan isn't off the table yet remember... it's all speculation. Could still happen....

What options are they then?

Witch hunt?.

Wants a business to fail?, it's been failing since day 1.

Https://amp.theguardian.com/business/article/2024/may/16/union-warns-of-threat-to-harland-wolff-jobs-if-treasury-vetoes-200m-support

How would they lose out?... would you underwrite JW?

Bet old Woodster is raging....

TDF do your research on JW, let me know what you find....

Jamsie, I'm not emotionally attached to H&W, I am emotionally attached to JW and what he's done. Totally separate love.. x

Emotional and as iconic as the yard is to BF, take all that away and it's just a failing business. When it comes to investment, it's the balance sheet / risk and everything else commercial that matters, not emotional attachment...