{ "format" : "linked-data-api", "version" : "0.2", "result" : {"_about" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Lord+Myners&answeringDeptSortName=Business%2C+Energy+and+Industrial+Strategy&max-date=2019-07-18", "definition" : "http://eldaddp.azurewebsites.net/meta/answeredquestions.text?tablingMember.label=Biography+information+for+Lord+Myners&answeringDeptSortName=Business%2C+Energy+and+Industrial+Strategy&max-date=2019-07-18", "extendedMetadataVersion" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Lord+Myners&answeringDeptSortName=Business%2C+Energy+and+Industrial+Strategy&max-date=2019-07-18&_metadata=all", "first" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Lord+Myners&_page=0&answeringDeptSortName=Business%2C+Energy+and+Industrial+Strategy&max-date=2019-07-18", "hasPart" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Lord+Myners&answeringDeptSortName=Business%2C+Energy+and+Industrial+Strategy&max-date=2019-07-18", "isPartOf" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Lord+Myners&answeringDeptSortName=Business%2C+Energy+and+Industrial+Strategy&max-date=2019-07-18", "items" : [{"_about" : "http://data.parliament.uk/resources/1131475", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1131475/answer", "answerText" : {"_value" : "

The British Business Bank was not involved.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-20", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-20T11:30:04.133Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-06-11", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "British Steel: Loans"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 22 May (HL15809), whether the review and assessment process followed by the British Business Bank also applied to the process supporting their grant of a £120 million loan to British Steel; and whether that process included a review of the (1) capital structure, (2) tax planning, and (3) managerial record, of Greybull Capital and its associates.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL16269"} , {"_about" : "http://data.parliament.uk/resources/1131479", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1131479/answer", "answerText" : {"_value" : "

The Deed of Forfeiture bridge facility agreed between Government and British Steel Limited provides legal protections to give Government control of 2019 EU ETS allowances, even under the scenario of insolvency.<\/p>

<\/p>

Under the Deed of Forfeiture agreed between the company and British Steel Limited, the company\u2019s 2019 allowances will be assigned to the Government once issued, and the proceeds from selling these is expected to cover the costs of purchasing the allowances. Greybull are not party to this Deed of Forfeiture, and as a result of the liquidation, day-to-day control has passed to the liquidator of British Steel Limited.<\/p>

<\/p>

The terms of the commercial agreement between Government and British Steel are set out in letters from the Permanent Secretary of the Department for Business, Energy and Industrial Strategy to the Chair of the Public Accounts Committee and the Comptroller & Auditor General, copies of which have been placed in the Libraries of both Houses.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-20", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-20T11:29:54.117Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-06-11", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "British Steel: Loans"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 6 June (HL15957), whether the placement of British Steel in receivership on 25 May (1) disqualifies that company from receiving, or (2) places it at risk of not receiving, 2019 carbon credits; if so, what are the implications for the £120 million loan they made to British Steel; and whether they will now answer the original question put, namely, whether that loan was guaranteed by Greybull Capital or related parties.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL16273"} , {"_about" : "http://data.parliament.uk/resources/1130841", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1130841/answer", "answerText" : {"_value" : "

In 2018, the Government published detailed proposals to reform corporate insolvency laws including strengthening the powers available to insolvency office-holders to challenge transactions and take recovery action where value has been extracted from a company as it approaches insolvency. The Government remains committed to introduce these changes as soon as Parliamentary time allows.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-17", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-17T12:31:37.757Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-06-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Insolvency"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 9 May (HL15286), whether they intend to prioritise strengthening the powers available to insolvency practitioners to take recovery action where value has been extracted from a company prior to insolvency and to require any such related funds to be returned.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL16208"} , {"_about" : "http://data.parliament.uk/resources/1130842", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1130842/answer", "answerText" : {"_value" : "

Asset managers act as agents of investors in their funds. They are required to manage their funds in the best interests of all of their fund investors and to appropriately avoid, manage and disclose conflicts of interests that could, and do arise between different investor groups. This is a requirement of Markets in Financial Instruments Directive II (MiFID II).<\/p>

<\/p>

Asset managers should have policies, procedures and governance in place to effectively manage any conflicts arising from their stewardship obligations.<\/p>

<\/p>

The FCA has recently published a Policy Statement (PS 19/13) \u2018Proposals to promote shareholder engagement: Feedback to CP 19/7 and final rules.\u2019 This sets out final rules to implement requirements of the Revised Shareholder Rights Directive (SRD II). SRD II introduced new requirements to improve shareholder engagement and increase transparency around stewardship. The rules came into effect on 10 June 2019 requiring asset managers to disclose and make publicly available their policies on how they engage with the companies they invest in. They also require asset managers to provide certain information to institutional investors, including occupational pension schemes. The new rules are designed to foster stewardship, and better stewardship should lead to better decision making in relation to mergers and acquisitions.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-19T16:42:37.67Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-06-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Takeovers: Conflict of Interests"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 20 May (HL15640), whether they have reviewed the decision-making processes in investment institutions which hold equity investments in both the offeror and the offeree in a takeover situation but on behalf of different clients and where a particular outcome might favour one group of clients over another .", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL16209"} , {"_about" : "http://data.parliament.uk/resources/1130249", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1130249/answer", "answerText" : {"_value" : "

The immediate priority following the Official Receiver\u2019s appointment as liquidator of British Steel Limited was to continue the safe operation of the sites while options are considered. To enable this, the Government has provided an indemnity to the Official Receiver, who is now responsible for the operations.<\/p>

<\/p>

The Official Receiver is currently overseeing a sales process as they seek to sell the business. Trading will continue whilst a buyer is sought.<\/p>

<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-19T11:33:12.963Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-06-05", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "British Steel: Insolvency"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government when they estimate they will cease to provide financial support to British Steel; whether a specific event will trigger the end of that support; and whether that support will terminate when the Official Receiver has completed their work.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL16110"} , {"_about" : "http://data.parliament.uk/resources/1130251", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1130251/answer", "answerText" : {"_value" : "

The Official Receiver was appointed liquidator of British Steel Limited. In his role as liquidator, the Official Receiver is under a statutory duty to investigate the cause of failure of the company and generally its business, dealings and affairs and has wide-ranging powers to obtain information, material, and explanations.<\/p>

<\/p>

My rt. hon. Friend the Secretary of State wrote to the Insolvency Service on 22 May requesting that the Official Receiver\u2019s investigation not only looks at the conduct of the directors immediately prior to and at insolvency, but also at the investments made in the company, value transferred out of the company and whether any action by directors has caused detriment to creditors or to the pension schemes.<\/p>

<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-19T11:33:53.217Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-06-05", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "British Steel: Insolvency"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether they plan to take any action to persuade Greybull Capital and its associates to contribute any gains made from its (1) investment in, and (2) loans to, British Steel towards reducing (a) the deficit of the British Steel Pension Scheme, and (b) the impact of British Steel's collapse on past and present employees.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL16112"} , {"_about" : "http://data.parliament.uk/resources/1129546", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1129546/answer", "answerText" : {"_value" : "

The Secretary of State for Business, Energy and Industrial Strategy has not issued any Ministerial Directions in respect of British Steel.<\/p>

This loan agreement was fully commercial and state aid compliant, valued at around £120m, under Section 7 of the Industrial Development Act 1982. Under the agreement the Government purchased emissions allowances on behalf of British Steel ensuring it met its 2018 ETS obligations. Failure to comply with its ETS obligations would have led to a fine of around £500m, on top of the costs of ETS compliance of around £120m.<\/p>

In return, under a deed of forfeiture, the company\u2019s 2019 allowances will be assigned to the Government once issued, and the proceeds from selling these is expected to cover the costs of purchasing allowances for British Steel. The\u202fGovernment\u2019s view is that the 2019 allowances will\u202fstill\u202fbe issued to British Steel in insolvency.<\/p>

The Government\u2019s assessment is that the Deed of Forfeiture offered value for money to the taxpayer, with benefits exceeding the costs, predicated on the level of confidence around security, even in the event of insolvency.<\/p>

This position was supported by the independent Industrial Development Advisory Board which assessed the proposal in their statutory role and agreed with the Government\u2019s value for money assessment.<\/p>

<\/p>

<\/p>

<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-18", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-18T16:50:34.45Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-06-04", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "British Steel: Loans"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether the recent loan of £120 million to enable British Steel to meet its emissions trading compliance costs required a Ministerial direction.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL16031"} , {"_about" : "http://data.parliament.uk/resources/1129547", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1129547/answer", "answerText" : {"_value" : "

I refer the Noble Lord to the answer I gave him on 4th<\/sup> June 2019 to Question HL15896, and to 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 & Auditor General, placed in the Libraries of both Houses, outlining the terms of the Deed of Forfeiture bridge facility agreed between Government and British Steel.<\/p>

<\/p>

The Deed of Forfeiture provides legal protections to give Government control of 2019 EU ETS allowances, even under the scenario of insolvency.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-12", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-12T15:12:11.763Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-06-04", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "British Steel: Loans"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether civil servants expressed any concerns about the loan made to British Steel to enable it to meet its emissions trading compliance costs; and whether this loan is subject to enforceable security.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL16032"} , {"_about" : "http://data.parliament.uk/resources/1128143", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1128143/answer", "answerText" : {"_value" : "

The support was provided to British Steel Limited in the form of a bridge facility. Under the terms of the commercial arrangement, the Government purchased the necessary allowances on behalf of British Steel Limited in the week leading up to 30 April and then surrendered them, via British Steel Limited's Operator Holding Account, to the EU Surrender Account. This occurred before the 30th April compliance deadline to surrender allowances for the 2018 reporting year, thus enabling British Steel Limited to meet its environmental obligations and avoid any penalties that would otherwise have resulted from non-compliance. In return, under a deed of forfeiture, the company\u2019s 2019 allowances will be assigned to the Government once issued, and the proceeds from selling these is expected to cover the costs of purchasing the allowances.<\/p>

<\/p>

The terms of the commercial agreement between the Government and British Steel are set out in letters from the Permanent Secretary of the Department for Business, Energy and Industrial Strategy to the Chair of the Public Accounts Committee and the Comptroller & Auditor General, copies of which have been placed in the Libraries of both Houses.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/2616", "label" : {"_value" : "Biography information for Lord Henley"} } , "answeringMemberPrinted" : {"_value" : "Lord Henley"} , "dateOfAnswer" : {"_value" : "2019-06-04", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-04T16:03:29.613Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-05-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "British Steel: Loans"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government to which company in the British Steel group of companies they extended a loan of £120 million for the purchase of carbon credits; whether that loan was guaranteed by Greybull Capital and associates; whether the borrower benefited from, or was exposed to, guarantees to other British Steel and Greybull Capital parties; and when that loan was drawn down.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL15957"} , {"_about" : "http://data.parliament.uk/resources/1128081", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1128081/answer", "answerText" : {"_value" : "

The Official Receiver is under a statutory duty to investigate the cause of failure of any company in compulsory liquidation and generally its business, dealings and affairs, which will include any actions taken which have been detrimental to creditors or pension schemes, and will do so in the case of British Steel. He has a duty to report any potential misconduct of directors to my rt. hon. Friend the Secretary of State for Business, Energy and Industrial Strategy.<\/p>

In the case of British Steel, the Secretary of State has written to the Insolvency Service, specifically requesting that the investigation not only looks at the conduct of the directors immediately prior to and at insolvency, but also at the investments made in the company (noting previous commitments given in this regard) and the potential value transferred out of the company.<\/p>

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