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<p>The Official Receiver is under a statutory duty to investigate the cause of failure
of any company in compulsory liquidation and generally its business, dealings and
affairs, which will include any actions taken which have been detrimental to creditors
or pension schemes, and will do so in the case of British Steel. He has a duty to
report any potential misconduct of directors to my rt. hon. Friend the Secretary of
State for Business, Energy and Industrial Strategy.</p><p>In the case of British Steel,
the Secretary of State has written to the Insolvency Service, specifically requesting
that the investigation not only looks at the conduct of the directors immediately
prior to and at insolvency, but also at the investments made in the company (noting
previous commitments given in this regard) and the potential value transferred out
of the company.</p><p> </p>
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