Jersey Innovation Fund (FOI)

Request

Please may I request all of the information regarding the Innovation Fund loan to Logfiller.

By that I mean

1. The paperwork submitted to the Innovation Fund Committee by Logfiller

2. All submission papers made by Logfiller

3. All questions asked by the Innovation Fund reagrding the loan to Logfiller

4. All answers made by Logfiller from any questions asked by the Innovation Fund Committee

5. All financial submissions made by Logfiller

6. All financial submissions made by the Innovation Fund

7. All and any paperwork submitted or received by the Innovation Fund or Logfiller

Response

The public authority holds the information requested. However, this information is exempt under Article 34(b) of the Freedom of Information (Jersey) Law 2011 and cannot be released at this time.  This would be reassessed if the company was dissolved. 

Exemptions applied

Article 34(b) – the economy – prejudice the financial interests of the States of Jersey

Information is qualified exempt information if – (b) its disclosure would, or would be likely to, prejudice the financial interests of the States of Jersey.

The company is currently in liquidation. It is important that the liquidation process is not hampered by the disclosure of information which may affect the value of the assets in the Company being liquidated. As a creditor of the Company, it is important the liquidators can obtain best value for any assets it may have. Any failure to achieve best value will in turn affect any return the States may see. Any disclosure is therefore likely to prejudice the financial interests of the States of Jersey.