Administrators investigating a charity's spending have been given another year to continue their work.
Since Coventry City of Culture Trust collapsed in February 2023 with debts of more than £4m, administrators have been working to sell off assets to try to pay back creditors while investigating the circumstances of the collapse, with forensic accountants being hired to assist.
The appointment of an administrator automatically ends one year after the date it takes effect.
But a notice filed with Companies House states that, with creditors' consent, the administration period will now run until 27 February 2025. Any further extensions are only possible by court order.
Meanwhile, a senior Conservative MP said they want to "get to the bottom of what went wrong".
Speaking to the Coventry Observer, Conservative Party Chairman Richard Holden said he and his party’s local candidates for the next general election were "very keen" for the full legacy of the City of Culture year to be realised.
“Millions was given by central government to fund the City of Culture year and I know there is a big desire in Coventry to get to the bottom of this issue.
“I know [our local candidates] are very passionate about this issue and want to see a real legacy of the City of Culture.
“This includes getting to the bottom of what went wrong but also to work towards building on the positive as there was so much money and goodwill invested into the year.”
Does ACE’s latest intervention go far enough?
More can be done to help struggling arts organisations, says Arts Professional's Neil Puffett.