Decision details

Winding-up of SJB Recycling Ltd

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decisions:

Considered –

 

A report of the Corporate Director for Business and Environmental Services providing an overview of SJB Recycling Ltd, its creation, changes to its business model and subsequent cessation of its operations in March 2020.

 

County Councillor Andrew Lee introduced the report detailing the history of the company and changes in the Environment Agency’s guidelines which had led to a move from ‘co-composting’ to the processing of green waste.  It was noted that this had resulted in a substantial increase in costs, which customers were not willing to meet once their contracts had ended.

 

Members noted the actions that would be put in place before beginningtheprocessofdissolution, and that the expected remaining balance was to be distributed to the Company’s shareholders in the form of a final dividend, as detailed in the report.

 

There were no questions, and all member voted in favour of the recommendations.  It was therefore

 

Resolved – That:

 

  i.    SJB Recycling Ltd  be wound up;

 ii.   The Chief Executive (as Shareholder Representative) be authorised to approve the final dividend and sign the relevant shareholder resolutions in relation to the final dividend; and

iii.   The AssistantChiefExecutive (Legaland Democratic Services) be authorised to preparethenecessary shareholder resolutionsand any action necessary to wind-up the company.

 

Report author: Michael Leah

Publication date: 17/02/2021

Date of decision: 16/02/2021

Decided at meeting: 16/02/2021 - Executive

Accompanying Documents: