TransEuropa Ferries owes £3.3m to Thanet council

TransEuropa Ferries' ferry TransEuropa Ferries was the only passenger service out of the Port of Ramsgate

Related Stories

A cross-Channel ferry firm that went into administration last month owes about £3.3m to Thanet District Council.

Belgian firm TransEuropa suspended all sailings between Ramsgate and Ostend amid fears over its future.

The council, which owns the Kent port, said it would now have to raid its reserves, which would include taking £1m from housing benefit subsidy.

The authority had been providing "temporary financial support" to the ailing firm since March 2011.

In a statement, it said it had made it clear in discussions with TransEuropa that the money was "to ensure the on-going future of the business".

'Chase the debt'

"This temporary support was subsequently extended until an investment partner could be found.

"Although an investment partnership was entered into in November 2012, the promised funding was not released and ultimately led to TransEuropa ceasing operations."

It said it would take whatever action it could to "chase the debt" but "good accounting practice" meant that it would have to provide for the debt in full within its 2012-13 statement of accounts.

The situation will be discussed at a cabinet meeting on 29 May.

TransEuropa had run passenger and freight services between Ramsgate and Ostend for the last 15 years.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More England stories

RSS

Features

  • Baby being handed overFraught world

    The legal confusion over UK surrogate births


  • Bad resultsBlame game

    The best excuses to use when exam results don't make the grade


  • Welsh flagDragon's den

    Why Wales will make its own mind up on independence


  • Police respond to a shooting in Santa MonicaTrigger decision

    What really happens before a police officer fires his gun?


  • Child injured by what activists say were two air strikes in the north-eastern Damascus suburb of Douma (3 August 2014)'No-one cares'

    Hope fades for Syrians one year after chemical attack


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.