WQ95532 (e) Wedi’i gyflwyno ar 22/01/2025

Pa gamau y mae'r Ysgrifennydd Cabinet wedi'u cymryd i adennill arian a roddwyd i Heads of the Valleys Development Company yn dilyn y prosiect Cylchffordd Cymru aflwyddiannus?

Wedi'i ateb gan Ysgrifennydd y Cabinet dros yr Economi, Ynni a Chynllunio | Wedi'i ateb ar 29/01/2025

No Welsh Government money was given directly to the Circuit of Wales. However, the commercial lender to the company called on the Welsh Government guarantee. Though no monies have been recovered, the Welsh Government has served notices on the Heads of the Valleys Development Company of their default position as a precautionary measure to secure the Welsh Government’s rights to take enforcement action at any time if it is deemed to be appropriate. However, following HOVDC entering into a Company Voluntary Arrangement (CVA) in 2018 and all other associated companies being insolvent, there is very little chance of the monies owed to Welsh Government being recovered.