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1122891

registered interest
date	24/04/2019
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	British Steel: Carbon Emissions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they have had any discussions with British Steel or its owners Greybull Capital in connection with the sale by British Steel of its carbon credits; and whether they propose to lend money to those parties or otherwise provide funding.
tabling member printed	Lord Myners
uin	HL15282
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>I refer the noble Lord to the statement made by my rt. hon. Friend the Secretary of State on 1<sup>st</sup> May 2019, <em>Official Report, Column 209-211</em>, on British Steel: EU Emissions Trading Compliance.</p> answering member printed Lord Henley question first answered 09/05/2019 11:05:34 answering member 2616 label Biography information for Lord Henley
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

1122895

registered interest
date	24/04/2019
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Company Voluntary Arrangements
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they intend to commission a review of the use of Company Voluntary Arrangements (CVAs), in particular to consider whether CVAs are used in good faith by landlords who have weakened the lessor covenant through previous payments of high dividends or capital distributions.
tabling member printed	Lord Myners
uin	HL15286
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>Company Voluntary Arrangements (CVAs) are a valuable part of the restructuring framework and there are no plans to review their use at this time. The Government consulted on a wide-ranging package of reforms to corporate insolvency in 2018, to enhance rescue prospects and also to address poor corporate behaviour. Following this consultation, Government announced it will strengthen the powers available to insolvency practitioners to take recovery action where value has been extracted from a company prior to its insolvency, thereby increasing the protections already available to creditors. These proposals will be introduced when parliamentary time permits.</p> answering member printed Lord Henley question first answered 09/05/2019 11:07:32 answering member 2616 label Biography information for Lord Henley
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

1122917

registered interest
date	24/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Asset Life
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they, or the Financial Conduct Authority, are investigating the activities of Asset Life and the suitability of its directors.
tabling member printed	Lord Myners
uin	HL15308
answer	answer is ministerial correction date of answer 08/05/2019 answer text <p>This question has been passed on to the Financial Conduct Authority (FCA). The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Young of Cookham question first answered 08/05/2019 12:55:24 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners