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63464

registered interest
date	24/06/2014
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, how many times the Insolvency Service's Redundancy Payments Service has made payments in cases where Deloitte was appointed the administrator in each of the last five years; how many such cases also involved payments made for protective awards; and how much was paid out for (a) statutory entitlements and (b) protective awards in each such case.
tabling member constituency	Kingston upon Hull North
tabling member printed	Diana Johnson
uin	202007
answer	answer is ministerial correction date of answer 30/06/2014 answer text <p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p>In the last five years, the Insolvency Service's Redundancy Payments Services have paid £77,233,534.54 in statutory entitlements, in 173 cases where Deloitte was appointed the administrator or liquidator.</p><p> </p><p> </p><p> </p><p>Of these cases, 20 cases resulted in protective award judgments totalling £6,930,864.72 paid from the National Insurance Fund.</p><p> </p><p> </p><p> </p><p>Due to the number of cases, it is not possible to disclose how much was paid in each individual case so a total has been provided instead.</p><p> </p><p> </p><p> </p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 30/06/2014 15:18:20 answering member 1513 label Biography information for Jo Swinson
tabling member	1533 label Biography information for Dame Diana Johnson

91680

registered interest
date	12/09/2014
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 on the independence and impartiality of the Institute of Chartered Accountants as regulator of insolvencies.
tabling member constituency	Great Grimsby
tabling member printed	Austin Mitchell
uin	209200
answer	answer is ministerial correction date of answer 13/10/2014 answer text <p>I have received no such recent representations.</p><p> </p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 13/10/2014 13:30:17 answering member 1513 label Biography information for Jo Swinson
tabling member	372 label Biography information for Austin Mitchell

143349

registered interest
date	07/11/2014
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 estimate his Department has made of the costs to insolvency practitioners of holding a physical creditor meeting in an insolvency procedure.
tabling member constituency	Chesterfield
tabling member printed	Toby Perkins
uin	213841
answer	answer is ministerial correction date of answer 19/11/2014 answer text <p>The cost of holding a meeting varies according to the insolvency process and the nature of the meeting being held.</p><p> </p><p>Estimates of the cost of the initial meetings in various insolvency procedures are included in the Impact Assessment [“Small Business, Enterprise and Employment Bill: proposed changes to the law governing insolvency proceedings impact assessment”, BIS/14/935, 30 October 2014] and range from £144 in a bankruptcy to £420 for an administration.</p><p> </p><table><tbody><tr><td><p><strong>Process</strong></p></td><td><p><strong>Cost of meeting/£</strong></p></td></tr><tr><td><p>Creditors’ voluntary liquidation</p></td><td><p>294</p></td></tr><tr><td><p>Administration</p></td><td><p>420</p></td></tr><tr><td><p>Compulsory winding-up (official receiver)</p></td><td><p>144</p></td></tr><tr><td><p>Company voluntary arrangement</p></td><td><p>420</p></td></tr><tr><td><p>Bankruptcy (official receiver)</p></td><td><p>144</p></td></tr><tr><td><p>Individual voluntary arrangement</p></td><td><p>420</p></td></tr></tbody></table><p> </p><p> </p><p> </p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 19/11/2014 14:32:04 answering member 1513 label Biography information for Jo Swinson
tabling member	3952 label Biography information for Mr Toby Perkins

143351

registered interest
date	07/11/2014
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 estimate his Department has made of the proportion of (a) secured and (b) unsecured creditors who attend creditor meetings during an insolvency procedure.
tabling member constituency	Chesterfield
tabling member printed	Toby Perkins
uin	213843
answer	answer is ministerial correction date of answer 19/11/2014 answer text <p>There is no central record of how many creditors attend meetings in person, but evidence indicates that attendance at meetings is very low and that many meetings are not attended at all.</p><p> </p><p>The 2013 report, “Review of Insolvency Practitioner Fees” by Professor Elaine Kempson, estimated that only 4% of creditors attend meetings in person and that fully secured creditors seldom attend in person.</p><p> </p><p>The report goes on to say that two firms had actually calculated the percentage of creditors attending meetings in person. A large firm had calculated that 1% of creditors do so, and a smaller firm had calculated the amount to be 3.5%.</p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 19/11/2014 14:33:03 answering member 1513 label Biography information for Jo Swinson
tabling member	3952 label Biography information for Mr Toby Perkins