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1047842

registered interest
date	24/01/2019
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	Patisserie Valerie: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they have instructed the Insolvency Service to review matters relating to Patisserie Valerie and its ownership; and if not, why not.
tabling member printed	Lord Myners
uin	HL13120
answer	answer is ministerial correction date of answer 05/02/2019 answer text <p>When a company enters administration, the administrators have to report to my rt. hon. Friend the Secretary of State for Business, Energy and Industrial Strategy on the conduct of the directors.</p><p> </p><p>In the case of Patisserie Valerie the Insolvency Service will be making early contact with the administrators and other authorities to discuss the directors’ conduct, and to consider whether further steps, such as a detailed investigation, may be necessary.</p><p> </p> answering member printed Lord Henley question first answered 05/02/2019 12:41:35 answering member 2616 label Biography information for Lord Henley
tabling member	3869 label Biography information for Lord Myners

1091615

registered interest
date	19/03/2019
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 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.
tabling member printed	Lord Myners
uin	HL14661
answer	answer is ministerial correction date of answer 27/03/2019 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> answering member printed Lord Henley question first answered 27/03/2019 15:25:44 answering member 2616 label Biography information for Lord Henley
tabling member	3869 label Biography information for Lord Myners