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518108

registered interest
date	09/05/2016
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	Retail Trade: Voucher Schemes
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will investigate the case for sales of gift vouchers by retailers to be backed by cash collateral held in independent escrow.
tabling member printed	Lord Myners
uin	HL8268
answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>Her Majesty’s Government has asked the Law Commission to consider the treatment of gift vouchers and pre-payments in the event of retailer insolvency. The Government will consider carefully any recommendations that may emerge on this question once the Law Commission’s report is published in the summer of 2016.</p> answering member printed Baroness Neville-Rolfe question first answered 11/05/2016 11:39:32 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

516985

registered interest
date	03/05/2016
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	Retail Acquisitions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will investigate the compliance of professional advisers to Retail Acquisitions with know-your-customer and money-laundering regulations.
tabling member printed	Lord Myners
uin	HL8140
answer	answer is ministerial correction date of answer 10/05/2016 answer text <p>A regulatory framework is in place to deal with non-compliance with know-your-customer and money-laundering regulations. However, this is not the focus of the current investigation by the Insolvency Service into BHS.</p><p>If, during the course of the current Insolvency Service investigation into BHS, it appears that there is good reason to widen the scope of its enquires, the Insolvency Service has powers under the Companies Act 1985 to initiate confidential enquiries.</p> answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 14:54:29 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

516408

registered interest
date	27/04/2016
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	Comet Group: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will publish the report produced by the Insolvency Service on the collapse of the Comet Group, and whether they will take that report into account when conducting any review of the circumstances leading to the collapse of BHS.
tabling member printed	Lord Myners
uin	HL8046
answer	answer is ministerial correction date of answer 05/05/2016 answer text <p>The Insolvency Service investigated Comet under provisions of the Companies Act, which means it is not possible to publish the report.</p><p>The Insolvency Service continuously builds on the experience gained in all its investigations to inform its work.</p> answering member printed Baroness Neville-Rolfe question first answered 05/05/2016 15:33:24 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515916

registered interest
date	26/04/2016
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	British Home Stores: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Statement by the Business Minister, Anna Soubry, on 25 April (HC Deb, col 1174), what assistance they plan to offer BHS or Retail Acquisitions.
tabling member printed	Lord Myners
uin	HL7982
answer	answer is ministerial correction date of answer 10/05/2016 answer text Workers and their families will be worried by the news that BHS has been placed in the hands of administrators. The Administrator must secure the best possible result for the business, starting with rescuing it if possible as a going concern. If this does not prove possible, then we stand ready to help those affected, including through Jobcentre Plus’ Rapid Response Service, to help people move into new jobs as quickly as possible. answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 14:49:46 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515522

registered interest
date	25/04/2016
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	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the legislation protecting creditors in the event of business failure.
tabling member printed	Lord Myners
uin	HL7902
answer	answer is ministerial correction date of answer 10/05/2016 answer text <p>We do keep insolvency legislation under review. We seek to ensure that the legislative framework strikes the right balance between rescuing a business, which may also save jobs, and the rights of creditors who may lose out financially.</p> answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 11:36:46 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515523

registered interest
date	25/04/2016
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	British Home Stores: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will establish an inquiry into the circumstances surrounding BHS being placed in administration, and in particular in to the implications for employees, pension scheme members and creditors.
tabling member printed	Lord Myners
uin	HL7903
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>When a company enters administration, the administrators have to report to my right hon. Friend the Secretary of State for Business, Innovation and Skills within three months on the conduct of the directors.</p><p>In the case of BHS the Insolvency Service is making early contact with the administrators to discuss the directors’ conduct and to consider whether further steps, such as a detailed investigation, may be necessary.</p><p>Where misconduct is established it can lead to disqualification of a director for between 2 and 15 years.</p> answering member printed Baroness Neville-Rolfe question first answered 03/05/2016 11:39:50 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515524

registered interest
date	25/04/2016
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	British Home Stores: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have had any talks with the owners, managers or advisers to BHS; and whether they will take any action to protect employees, creditors and pensioners.
tabling member printed	Lord Myners
uin	HL7904
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>This is a worrying time for the BHS workforce and their families.</p><p>I understand that there are no plans for immediate store closures and that the administrators are looking to sell BHS as a going concern.</p><p>Clearly if this proves not to be possible, then we stand ready to help those affected, including through Jobcentre Plus’ Rapid Response Service, to help people move into new jobs as quickly as possible.</p><p>The Insolvency Service continues to liaise with the administrators, and stands ready to provide statutory assistance to employees in the event that the commercial situation changes.</p><p>I understand that the BHS schemes are in the early stages of a Pension Protection Fund (PPF) assessment period, during which the PPF will determine the final funding position of the scheme and whether it should assume responsibility for a scheme. We cannot comment on this, or any other individual case directly.</p> answering member printed Baroness Neville-Rolfe question first answered 03/05/2016 11:39:14 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

175415

registered interest
date	23/01/2015
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	Bank Services: St Agnes
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will take steps to ensure the continued presence of commercial retail banking services in St Agnes, Cornwall; and whether they will investigate proposals by Barclays to close the only remaining retail banking branch in that area.
tabling member printed	Lord Myners
uin	HL4401
answer	answer is ministerial correction date of answer 09/02/2015 answer text <p>Officials at the Department for Business have discussed with Barclays the rationale for the proposed closure of its branch in St Agnes. Ultimately, however, the decision on whether to retain a branch in the town is a matter for the management of the bank who will need to balance customer interests, market competition and other commercial factors.</p><p> </p><p> </p><p> </p><p>The Government, nonetheless, recognises that bank branch closures can have a significant impact on customers, particularly vulnerable customers such as the elderly, the disabled, those on low incomes, and small businesses. It is therefore pressing the banking sector to finalise a new branch closure protocol.</p><p> </p><p> </p><p> </p><p>The Government is also clear that there is an important role to play for Post Office in maintaining communities’ physical access to banking services. Barclays (and most other banks) have commercial arrangements in place with Post Office allowing personal current account customers to withdraw money and deposit cash and cheques at Post Office branches, including the one in St Agnes. Approximately 95% of UK personal account customers are already able to access banking services at the Post Office, and negotiations are underway to increase this coverage to closer to 100%.</p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 09/02/2015 17:24:47 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

172688

registered interest
date	08/01/2015
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	City Link
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will examine the financial support undertakings given to City Link by its owner; and whether they have estimated the cost to the taxpayer of the withdrawal of the committed support.
tabling member printed	Lord Myners
uin	HL4008
answer	answer is ministerial correction date of answer 20/01/2015 answer text <p><strong> </strong></p><p> </p><p>The Insolvency Service will consider the conduct of the directors of City Link in connection with the management of the company. This would include any issues associated with financial support offered by its owner or by third parties.</p><p> </p><p> </p><p> </p><p>It is not uncommon that an insolvent company has insufficient money to pay their creditors in full - including employees - and that is why there are special arrangements for employees who are made redundant on the insolvency of their employer. These provisions ensure employees receive a basic minimum of the debts owed by the employer from the National Insurance Fund.</p><p> </p><p> </p><p> </p><p>It is too early to provide an estimate of the cost of the payments to former employees of City Link. However, I can confirm that there are statutory limits on these payments, such as the £464 cap on a week’s pay.</p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 20/01/2015 12:51:55 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

156561

registered interest
date	19/11/2014
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	Quindell
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they are investigating Quindell plc and its board of directors and financial advisers; and if not, whether they plan to do so.
tabling member printed	Lord Myners
uin	HL2984
answer	answer is ministerial correction date of answer 01/12/2014 answer text <p>Quindell plc is Alternative Investment Market (AIM) listed which is controlled by London Stock Exchange and any enquiry relating to possible market abuse sits within the remit of the Financial Conduct Authority.</p><p> </p><p>The Government’s Insolvency Service has discretionary powers under the Companies Acts to conduct enquiries on behalf of the Secretary of State where it appears that there has been misconduct in relation to the affairs of any company, including those not subject to formal insolvency.</p><p> </p><p> </p><p> </p><p>For the investigation process to be effective it is essential to maintain confidentiality at all stages and there is also a need to protect the commercial interest of companies against the danger of damage from malicious complaints. For these reasons there are legal restrictions on disclosing information obtained during an enquiry and The Service does not confirm or deny whether an investigation of a particular company is taking place.</p><p> </p><p>Where other regulators and investigating agencies are involved, the Insolvency Service would liaise closely to ensure public money is not wasted duplicating resources.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 01/12/2014 12:09:55 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners