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173346

registered interest
date	13/01/2015
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Insolvency Service
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to ensure that the Insolvency Service provides value for money for creditors of liquidated companies.
tabling member constituency	Huddersfield
tabling member printed	Mr Barry Sheerman
uin	220547
answer	answer is ministerial correction date of answer 20/01/2015 answer text <p>The Insolvency Service has recently undertaken reviews of its systems and processes to identify ways to reduce costs. It also regularly reviews its fees. In addition, measures contained in the Small Business, Enterprise and Employment Bill will benefit creditors by saving an estimated £20m per year from the cost of all insolvency proceedings.</p><p> </p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 20/01/2015 15:14:49 answering member 1513 label Biography information for Jo Swinson
tabling member	411 label Biography information for Mr Barry Sheerman

173352

registered interest
date	13/01/2015
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Insolvency
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what recent representations he has received from creditors of companies which go into insolvency about the Insolvency Act 1986.
tabling member constituency	Huddersfield
tabling member printed	Mr Barry Sheerman
uin	220648
answer	answer is ministerial correction date of answer 19/01/2015 answer text <p>I regularly receive representations from those who are owed monies by insolvent companies. Unfortunately it is the inevitable consequence of insolvency that some creditors will remain unpaid, but the Government is committed to making sure that we have the fairest possible insolvency regime for when things go wrong. Measures contained in the Small Business, Enterprise and Employment Bill will benefit creditors by saving an estimated £20m per year from the cost of insolvency proceedings.</p><p> </p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 19/01/2015 11:32:35 answering member 1513 label Biography information for Jo Swinson
tabling member	411 label Biography information for Mr Barry Sheerman

173353

registered interest
date	13/01/2015
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Insolvency
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what recent representations he has received from creditors of companies which have gone into liquidation about the priority of payments in cases of liquidation.
tabling member constituency	Huddersfield
tabling member printed	Mr Barry Sheerman
uin	220650
answer	answer is ministerial correction date of answer 19/01/2015 answer text <p>I occasionally receive representations from creditors of companies in liquidation about priority of payments in those cases. In broad terms, the principle applied in insolvency cases is that creditors are treated equally, and will receive any payment they are due after the fees, costs and expenses of the liquidation have been paid. This is not an area which the Government has any current plans to change.</p><p> </p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 19/01/2015 14:59:02 answering member 1513 label Biography information for Jo Swinson
tabling member	411 label Biography information for Mr Barry Sheerman