Pa warantau penodol a ddarparwyd gan Dawnus yn gyfnewid am gymorth ariannol gan Lywodraeth Cymru, ac yn erbyn pa gwmnïau oedd yn gysylltiedig â Dawnus y gosodwyd gwarantau o'r fath?
The securities provided by Dawnus Group Ltd in relation to the financial assistance provided by the Welsh Government included a number of assets in the form of a ‘chattels mortgage’ on plant and machinery. In addition, security was provided against aged work in progress and debtors. Further debentures and cross group company guarantees were provided by the companies within the group.
Security was offered on a joint basis provided on a pari passau arrangement with HSBC who were match funding Welsh Governments’ investment, above its existing funding provision. To be clear, typically public sector support to business is secured on a subordinated bases to the primary commercial lender. In this instance, securities were provided on a joint ranking secured basis for the additional £7m invested in to Dawnus Group Ltd, secured against assets carved out of the commercial lenders existing portfolio.
To date the Welsh Government has recovered funds associated with the sale of 15 assets by the administrator, on which it holds security in the West of Africa.
The Welsh Government are aware that the administrators are in dialogue with a potential buyer for other assets on which it holds security overseas, as this negotiation is ongoing it would be inappropriate for me to comment further at this juncture.