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Dept for Culture Media and Sport

Answer

Mr. Peter Ainsworth: To ask the Secretary of State for Culture, Media and Sport what the value is of professional fees paid, or contracted to be paid, by the New Millennium Experience Company for (a) accountancy and (b) legal advice since 1 January. [134596] Janet Anderson: [holding answer 26 October 2000]: On accountancy fees paid, I refer the hon. Member to my letter of 26 October, a copy of which has been placed in the Libraries of the House. The New Millennium Experience Company (NMEC) has advised that total payments to legal firms between 1 January 2000 and 30 September 2000 were £674,070. The firms who undertook work for the NMEC during this period were Simmons and Simmons, Eversheds, Norton Rose, Masons, Bird and Bird, Fenwick Elliot and Harbottles. Payments to legal firms over the six months from 30 September are estimated at up to £1.5 million. The higher costs for these six months reflect the legal requirements involved in the necessary contractual reviews to ensure that all actual and contingent liabilities are identified and all benefits to the company are crystallised. In addition to the firms noted above, Berwin Leighton are supporting and advising the Executive Chairman and the new management team on close-out, contract review and legacy issues.

Secondary information

Type

Written question

Reference

357 c626W;357 c625W; 134596

Session

1999-00

Subjects

Accountancy Fees and charges Legal opinion New Millennium Experience Millennium Portfolio

Contains statistics

Yes

Link

View this Written question on www.publications.parliament.uk