Nottingham city council issues notice in effect declaring itself bankrupt
by Jessica Murray Midlands correspondent from World news | The Guardian on (#6GRBP)
Local authority issues section 114 notice suspending spending as it admits it cannot balance budget
Nottingham city council has issued a section 114 notice, in effect declaring itself bankrupt.
In an announcement on Wednesday, the local authority said its chief financial officer had decided it isn't able to deliver a balanced budget for this year, which is a legal requirement".
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