An independent report commissioned by the regulator, sets out lessons learned from the resolution of problems at Cosmopolitan Housing Group.
This report examines:
- the historic context (looking back to 2003)
- assurance, governance and controls within Cosmopolitan Housing Group 2003 to 2005
- the merger between Chester and District Housing Trust and Cosmopolitan Housing Group
- liquidity issues and financial covenant compliance 2012
- HCA case handling of the crisis
The lessons learned for the sector, regulator and government are set out as recommendations at the end of this report.