Reply To: Lotus sanctuary

#282789
peterdelamothe
Keymaster

“The three bosses of Home REIT’s now-bankrupt biggest tenant pocketed over £1.2m last year even as the firm struggled to pay rent and slumped to a multi-million pound loss, City A.M. can reveal.

the chief of Wolverhampton-based social housing provider Lotus Housing, hiked his own and two directors’ pay to £1.2m in 2022 – up from a total of just £9,250 in 2020 – despite the firm’s losses growing to around £4.75m by October last year, an insolvency report for the firm obtained by City A.M. reveals”.

Interesting point. If you are challenging exempt charges etc, I wonder how relevant it is to ask about director renumeration. This social landlord increased them by over 125 times it seems.

Can of worms.

“Lotus was not rejected for exempt status, but unfortunately faced significant delays in achieving exempt status leading to an accrual of £4.1m in unpaid housing benefit, that would have been paid once Lotus was accepted.

“The demand for Lotus’ services far outpaced the growth. Lotus had 1600 vulnerable homeless people on a waiting list for housing, who unfortunately will not be housed due to the significant delays from the councils.”