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1125507

registered interest
date	08/05/2019
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	West Coast Partnership Rail Franchise
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether FirstGroup has met all Department of Transport criteria on railways pensions as a shortlisted bidder for the West Coast Partnership rail franchise.
tabling member printed	Lord Myners
uin	HL15602
answer	answer is ministerial correction date of answer 22/05/2019 answer text <p>The Department does not comment on a live competition. Please note that all bids received for any franchise competition are evaluated against the requirements and instructions set out in the relevant Invitation To Tender.</p><p> </p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 22/05/2019 14:21:03 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	3869 label Biography information for Lord Myners

1124419

registered interest
date	01/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether Treasury ministers or officials have been in discussions with the Financial Conduct Authority (FCA) about the establishment by the latter of an independent review into the FCA’s supervision of London Capital & Finance; and why the terms of reference of the review and the identity of the independent reviewer have not yet been published.
tabling member printed	Lord Myners
uin	HL15468
answer	answer is ministerial correction date of answer 15/05/2019 answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. The independent investigation will seek to better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.</p><p>It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including the appointment of the independent investigator, will be published shortly.</p> answering member printed Lord Young of Cookham question first answered 15/05/2019 11:31:21 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

1124420

registered interest
date	01/05/2019
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: Loans
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they will publish the terms of their commercial loan to British Steel; and what consideration they have given to financing other companies in a similar position.
tabling member printed	Lord Myners
uin	HL15469
answer	answer is ministerial correction date of answer 10/05/2019 answer text <p>The terms of the commercial agreement between the Government and British Steel are set out in letters from the Permanent Secretary to the Department for Business, Energy and Industrial Strategy to the Chair of the Public Accounts Committee and the Comptroller &amp; Auditor General, copies of which have been placed in the Libraries of both Houses.</p><p> </p><p>The Government has been in regular communication with all EU ETS participants since November 2017 to notify of the risks associated with a no deal scenario. All UK installations met their 2018 obligations in full before the compliance deadline on the 30th April.</p> answering member printed Lord Henley question first answered 10/05/2019 12:41:15 answering member 2616 label Biography information for Lord Henley
tabling member	3869 label Biography information for Lord Myners

1124050

registered interest
date	30/04/2019
answering body	Ministry of Defence
answering dept id	11
answering dept short name	Defence
answering dept sort name	Defence
hansard heading	Brunei: Armed Forces
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, following the introduction by the government of Brunei of stoning as a punishment for gay sex, whether British military personnel proposed for secondment to British Forces Brunei are allowed to secure exemption from that secondment due to identifying as LBGT without financial or promotional penalty.
tabling member printed	Lord Myners
uin	HL15432
answer	answer is ministerial correction date of answer 15/05/2019 answer text <p>We are confident we have protections in place with the Government of Brunei for all British Forces, associated UK civilians and their dependants relating to issues which might arise from the introduction of the new Sharia Penal Code. All British Forces in Brunei have also been instructed to heed FCO travel advice. Any individual requests for exemptions will be taken on a case by case basis.</p> answering member printed Earl Howe question first answered 15/05/2019 14:36:11 answering member 2000 label Biography information for Earl Howe
tabling member	3869 label Biography information for Lord Myners

1123769

registered interest
date	29/04/2019
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Eastman Kodak: Pensions Protection Fund
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government who is responsible for oversight of matters regarding the Pensions Protection Fund (PPF) and Kodak; and whether they plan to commission an independent review of the handling of Kodak by the PPF and the Pensions Regulator and the advice received by both.
tabling member printed	Lord Myners
uin	HL15407
answer	answer is ministerial correction date of answer 14/05/2019 answer text <p>The Pension Protection Fund is a statutory public corporation led by its Board and accountable to Parliament through the Secretary of State for the Department for Work and Pensions.</p><p> </p><p>The original decision in the Kodak case, which provided savers with the potential to receive benefits above Pension Protection Fund levels, was finely balanced and carefully assessed with the benefit of the due diligence carried out for the trustees. Regulated Apportionment Arrangements, a restructuring mechanism which allows a financially troubled employer to detach itself from its liabilities in respect of a defined benefit scheme, are rare and The Pensions Regulator will only agree to them if stringent criteria are met, with entry into the Pension Protection Fund the expected outcome, and the Pension Protection Fund must not object to the Regulated Apportionment Arrangements. The Pensions Regulator published a section 89 regulatory intervention report in November 2014 describing in detail the considerations leading to the decision in this case.</p><p> </p><p>As a condition of approving the successor Kodak pension scheme in 2014, a memorandum of understanding was put in place giving The Pensions Regulator the power to closely monitor the progress of the scheme and if necessary trigger its wind up. This has allowed The Pensions Regulator, with the Pension Protection Fund, to remain actively involved in discussions about the scheme’s future. Due to underperformance of the underlying business it was concluded that the scheme would be unable to meet its long term funding requirements. Action has therefore been taken to bring the scheme into a Pension Protection Fund assessment period which commenced on the 25 March 2019.</p><p> </p><p>Specialist firms with extensive Pension Protection Fund experience have been brought in to manage the administration of the pension scheme and to oversee its efficient passage through the assessment process.</p><p> </p><p>Whilst the Kodak case is a significant claim, the Pension Protection Fund remains in a robust financial position. In its last reported accounts, the Pension Protection Fund had a £6.7 billion reserve and is currently on track to reach its funding objective. There has been no immediate impact on the Pension Protection Fund Levy arising from this case. The Pension Protection Fund aims to collect £500m in levy in 2019/20 which is £50m lower than it aimed to collect in 2018/19.</p><p> </p><p>The Pensions Regulator aims to learn from every major pensions restructuring case and has refined its approach to complex pension restructurings in light of the lessons learned in the Kodak case and successive cases. A letter was sent on the 17<sup>th</sup> October 2018 from Lesley Titcomb, the then Chief Executive Officer (CEO) of The Pensions Regulator, addressed to the Chair of the Work and Pensions Select Committee, Rt Hon Frank Field MP, summarising the lessons learnt in the Kodak case.</p> answering member printed Baroness Buscombe question first answered 14/05/2019 15:29:45 answering member 3349 label Biography information for Baroness Buscombe
tabling member	3869 label Biography information for Lord Myners

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