ODSHERRED: Mayor of Odsherred Municipality, Karina Vincentz (Nyt Odsherred), got an unpleasant surprise on Friday, which means that the citizens of the municipality will have to pay more for their district heating. This is reported by DR and the media Cleantechwatch after participating in a press conference in Hørby.
The municipality's utility company, Odsherred Forsyning, has been taken under reconstruction by the bankruptcy court in Holbæk with a debt of more than one billion kroner.
- There is no way around it, and customers will be able to feel this on their heating bill, says Karina Vincentz according to DR.
Part of the large debt in Odsherred Forsyning is due to a failed rollout of district heating in the subsidiary Odsherred Varme. Odsherred Varme has taken out a loan from Nordea of 680 million kroner with a so-called self-obligor guarantee.
The self-obligor guarantee means that Odsherred Forsyning is liable for the loan if Odsherred Varme is unable to pay, which is now the case.
"Has not approved the conditions"
According to the municipality, Nordea maintains that the parent company Odsherred Forsyning has entered into the agreement containing the self-obligor guarantee, but Odsherred Forsyning denies this fact.
However, the guarantee has been signed by a former chairman and director of Odsherred Forsyning, Mayor Karina Vincentz stated at Friday's press conference according to Cleantechwatch.
Karina Vincents also says that according to the articles of association of Odsherred Forsyning, the municipality must approve such loan conditions, and this has not happened.
- It was a very big and also unpleasant surprise that the loan was taken on those terms.
- To put it very clearly: With those loan terms, they have effectively mortgaged the entire utility group, says Karina Vincentz according to Cleantechwatch.
The Court of Appeal in Holbæk has four weeks to present a reconstruction plan together with the utility company and its creditors. Odsherred Forsyning is responsible for the daily management until the reconstruction meeting.
/ritzau/
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