It found "mismanagement under almost all the heads of its terms of reference", according to a statement from Solon.
No individual or single part of the RSL is held to be personally responsible in the report, the statement said. "A collective failure to manage the business of the association according to recognised good practice" was the root cause.
However, the RSL admitted that the corporation had found evidence that Solon's management committee faced "administrative guerrilla warfare" in recent months.
Candidates to take over the 1000-home RSL have yet to be announced. The corporation has invited Solon's management committee to make representations on the report and the corporation board will consider the matter again at a meeting in June.
We may not have the managerial or human resources to achieve the improvements required
Statement from Solon Wandsworth
Solon's statement said it had sufficient financial resources to meet its obligations "as and when they fall due", and said its solvency was neither in doubt nor a material issue in the decision reached by the corporation.
However, it added: "Solon Wandsworth may not have the managerial or human resources to achieve the improvements in the stock condition or performance which are required of all social landlords in the long term."
Rita Dattani, interim Solon chief executive and a former consultant at Hacas Chapman Hendy, refused to comment on the report or its implications.
Dattani was appointed in March. Before that, the RSL lacked a chief executive and was run directly by the nine non-executive, unpaid members of the management committee.
Source
Housing Today
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