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1091615
registered interest false more like this
date less than 2019-03-19more like thisremove minimum value filter
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 more like this
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Company Voluntary Arrangements more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what plans they have, if any, to assess whether Company Voluntary Arrangements effectively protect the economic interests of HMRC, and those of creditors and property owners. more like this
tabling member printed
Lord Myners more like this
uin HL14661 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-03-27more like thismore than 2019-03-27
answer text <p>Company voluntary arrangements are a valuable part of the restructuring framework and the Government does not intend to conduct a review of them at this time. A company voluntary arrangement allows a financially distressed company to restructure its debts and avoid liquidation or administration. Approval of more than 75% of creditors is required to pass a company voluntary arrangement and any creditor may still apply to court if it feels its interests are being unfairly prejudiced, this provides an important safeguard for creditors, including HMRC and property owners.</p> more like this
answering member printed Lord Henley more like this
question first answered
less than 2019-03-27T15:25:44.843Zmore like thismore than 2019-03-27T15:25:44.843Z
answering member
2616
label Biography information for Lord Henley remove filter
tabling member
3869
label Biography information for Lord Myners remove filter