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1241976

registered interest
date	08/10/2020
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when they last communicated with Greybull Capital and Petrol Jersey Limited about the repayment of the costs to taxpayers of repatriating UK passengers of Monarch Airlines when that airline collapsed.
tabling member printed	Lord Myners
uin	HL8941
answer	answer is ministerial correction date of answer 22/10/2020 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee on 24 October 2017 acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020. Until then, we will not be able to confirm the final total that the Department has recouped.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p> answering member printed Baroness Vere of Norbiton question first answered 22/10/2020 16:17:39 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1149754

registered interest
date	14/10/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how many matters are outstanding in calculating the cost to taxpayers of repatriating Monarch Airlines passengers to the United Kingdom; whether independent accountants have been appointed and given access to papers in order to assist in calculating that cost; and what enquiries have been made to Greybull and its associates in the last year about the collapse of that airline.
tabling member printed	Lord Myners
uin	HL47
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The calculation of the final cost to the taxpayer of repatriating Monarch Airlines passengers will depend on the outcome of the administration process, which is not due to conclude until October 2020. As such, the Department for Transport has not appointed independent accountants nor given them access to associated paper work at this time.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 28/10/2019 11:37:18 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1148317

registered interest
date	03/10/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether their current estimate for the cost of repatriating customers of Monarch Airlines to the UK assumes a contribution from (1) the owners, and (2) any associate, of Greybull Capital; and when ministers or officials last contacted Greybull Capital about its willingness to make a contribution to that cost.
tabling member printed	Lord Myners
uin	HL18037
answer	answer is ministerial correction date of answer 08/10/2019 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>However, Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020. Until then, we will not be able to confirm the final total that the Department has recouped.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 08/10/2019 11:27:26 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1144188

registered interest
date	03/09/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what progress they have made in obtaining a financial contribution from Greybull Capital towards the cost of the return to the UK of passengers on Monarch Airlines consequent on the withdrawal of financial support by Greybull Capital; what is their assessment of whether Greybull Capital and associates are likely to make a profit on their investment in Greybull Capital; whether any such profit will be assessable to UK tax; and when Ministers last had contact with Greybull Capital.
tabling member printed	Lord Myners
uin	HL17676
answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>However, Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020.</p><p> </p><p>Profits made by corporations are subject to the tax laws relevant to their jurisdiction. Petrol Jersey Limited is a company which is incorporated in Jersey. It would be for HM Revenue and Customs to confirm whether any such profit would be assessable to tax in the UK.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p> answering member printed Baroness Vere of Norbiton question first answered 09/09/2019 12:40:37 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1122892

registered interest
date	24/04/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when they last talked with Greybull Capital about it contributing to the costs incurred by the Government in repatriating Monarch passengers after the airline collapsed.
tabling member printed	Lord Myners
uin	HL15283
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>However Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020.</p><p> </p><p>I refer to the Written Ministerial Statement made by the Secretary of State on 9 May 2019, which reported that the final cost to the taxpayer from the Monarch repatriation have been assessed to be £40.5m. This does not include any contribution from Greybull Capital or the principal shareholder, Petrol Jersey Limited. We do not expect any material change to the final cost to the taxpayer.</p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Vere of Norbiton grouped question UIN HL15293 question first answered 09/05/2019 14:24:37 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1122902

registered interest
date	24/04/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, further to the Written Answer by Baroness Sugg on 12 March (HL14267), whether the contribution promised by Greybull to meet part of the cost incurred by taxpayers in repatriating customers of Monarch Airlines is dependent on the completion of the administration of the Monarch group of companies; and when ministers last met Greybull in connection with Greybull's contribution to costs.
tabling member printed	Lord Myners
uin	HL15293
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>Greybull Capital is not itself a shareholder in Monarch Airlines but it does perform an advisory and management role for the principal shareholder, Petrol Jersey Limited. There is no formal legal mechanism we can use to oblige Greybull to contribute towards the cost of repatriating passengers.</p><p> </p><p>However Marc Meyohas, partner at Greybull, wrote to the Transport Select Committee acknowledging a moral obligation (if they make a profit) to contribute and help to defray the costs incurred by the Government in repatriating Monarch customers.</p><p> </p><p>Discussions with Greybull in relation to recovering the costs of the repatriation operation have been in writing. Ministers last wrote to Greybull on this matter on 5 December 2018.</p><p> </p><p>The extent of any profit or loss from Greybull Capital and Petrol Jersey Limited’s investment in Monarch Airlines will depend on the outcome of the administration process, which is not due to conclude until October 2020.</p><p> </p><p>I refer to the Written Ministerial Statement made by the Secretary of State on 9 May 2019, which reported that the final cost to the taxpayer from the Monarch repatriation have been assessed to be £40.5m. This does not include any contribution from Greybull Capital or the principal shareholder, Petrol Jersey Limited. We do not expect any material change to the final cost to the taxpayer.</p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Vere of Norbiton grouped question UIN HL15283 question first answered 09/05/2019 14:24:38 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners