A States committee has ruled that the States of Jersey Development Company (SOJDC) must release the files to a Scrutiny Panel reviewing the finance centre development and has given them seven days to comply.
But the company says that the non-disclosure agreements that the panel would have to sign are not enough – they say that they are taking legal advice about a court challenge to the decision, because disclosing the documents risks placing sensitive information in the public domain.
Yesterday, the Privileges and Procedures Committee announced that it had unanimously backed the Corporate Services Scrutiny Panel’s argument over that of the SOJDC, and had given the company seven days to allow the panel to review the paperwork that they want – including the pre-let agreement with UBS, the funding agreement between SOJDC and HSBC who have lent them the money to carry out the scheme, and the construction contract between SOJDC and Camerons.
They have also been ordered to produce “any side letters and other documentation”.
The terms of the disclosure order mean that the panel will not be able to take away or copy the documents, and that the content of the documents may not be disclosed to anyone.
The SOJDC say that the decision has potentially far-reaching implications, and have noted that Camerons say that they would not have tendered for the work if they had known that the confidential information in the report would be disclosed to politicians.
In a statement, the SOJDC said: “The ramifications of this decision go far beyond the Jersey Development Company, as it sets a precedent whereby all States owned companies could be forced to provide commercially sensitive information to individuals without any assurance of confidentiality.
“Given the serious ramifications of this decision and the precedent it sets for the future, the Board of Directors will be taking further advice from their legal advisers with regard to the possibility of a Judicial Review of this decision.”