||<p>As the Secretary of State for BEIS set out in his statement to the House on 1 May,
the government entered into a commercial agreement with British Steel on 23 April,
which provided a short term bridge facility valued at around £120 million. This ensured
the company met its obligations under the EU Emissions Trading Scheme for the 2018
scheme year.</p><p> </p><p>Following the recent insolvency of British Steel, the government
has indemnified the Official Receive to carry out its statutory duties as liquidator.
The Official Receiver is required by law to investigate the reasons for the failure
of any company that enters compulsory liquidation.</p>