Timetable of the investigation by the Housing Corporation will be revealed in the next few weeks
A full scale independent enquiry in to the collapse of housing association Ujima is to be carried out by the government’s housing regulator the Housing Corporation.
Ujima, which has now had its assets transferred to rival association L&Q, collapsed before Christmas after regulators discovered they owed £164 million to creditors.
Housing Corporation chief executive Steve Douglas said he believed it was: “right and proper to commission an independent inquiry into what went wrong at Ujima in order to see what lessons can be learned.”
Details of the timetable of the investigation will be announced in the coming weeks. The Housing Corporation, which is supposed to ensure that Housing Associations do not go bankrupt, suspended development grants to Ujima in April, but didn’t intervene in the finances of the association until November.
No comments yet