Process<\/strong><\/p><\/td> Cost of meeting/£<\/strong><\/p><\/td><\/tr> Creditors\u2019 voluntary liquidation<\/p><\/td> 294<\/p><\/td><\/tr> Administration<\/p><\/td> 420<\/p><\/td><\/tr> Compulsory winding-up (official receiver)<\/p><\/td> 144<\/p><\/td><\/tr> Company voluntary arrangement<\/p><\/td> 420<\/p><\/td><\/tr> Bankruptcy (official receiver)<\/p><\/td> 144<\/p><\/td><\/tr> Individual voluntary arrangement<\/p><\/td> 420<\/p><\/td><\/tr><\/tbody><\/table> <\/p> <\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1513", "label" : {"_value" : "Biography information for Jo Swinson"}
}
, "answeringMemberConstituency" : {"_value" : "East Dunbartonshire"}
, "answeringMemberPrinted" : {"_value" : "Jo Swinson"}
, "dateOfAnswer" : {"_value" : "2014-11-19", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-11-19T14:32:04.867Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "26"}
, "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"}
, "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"}
, "date" : {"_value" : "2014-11-07", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Insolvency"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Business, Innovation and Skills, what estimate his Department has made of the costs to insolvency practitioners of holding a physical creditor meeting in an insolvency procedure.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3952", "label" : {"_value" : "Biography information for Mr Toby Perkins"}
}
, "tablingMemberConstituency" : {"_value" : "Chesterfield"}
, "tablingMemberPrinted" : [{"_value" : "Toby Perkins"}
], "uin" : "213841"}
, {"_about" : "http://data.parliament.uk/resources/143350", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/143350/answer", "answerText" : {"_value" : " The savings to creditors identified in the first year from removal of the requirement to hold a meeting and abolition of final meetings in liquidations and bankruptcies where the official receiver is not the office holder, are estimated to be at least £9.2m (comprised of £2.9m for removal of requirement for meetings and £6.3m for abolition of final meetings).<\/p> <\/p> We have not sought to quantify the savings to the public purse, such as the specific benefit to HMRC as a creditor. We have however estimated that around 10% of creditors are not businesses, so approximately £0.9m of savings can be attributed to such creditors as Crown departments, employees and customers for deposits.<\/p> <\/p> The savings figures are based on 2013 costs.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1513", "label" : {"_value" : "Biography information for Jo Swinson"}
}
, "answeringMemberConstituency" : {"_value" : "East Dunbartonshire"}
, "answeringMemberPrinted" : {"_value" : "Jo Swinson"}
, "dateOfAnswer" : {"_value" : "2014-11-19", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-11-19T14:34:37.817Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "26"}
, "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"}
, "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"}
, "date" : {"_value" : "2014-11-07", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Insolvency"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Business, Innovation and Skills, what estimate his Department has made of the saving to the public purse made by removing the provision for insolvency practitioners to call a physical creditor meeting.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3952", "label" : {"_value" : "Biography information for Mr Toby Perkins"}
}
, "tablingMemberConstituency" : {"_value" : "Chesterfield"}
, "tablingMemberPrinted" : [{"_value" : "Toby Perkins"}
], "uin" : "213842"}
, {"_about" : "http://data.parliament.uk/resources/143351", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/143351/answer", "answerText" : {"_value" : " There is no central record of how many creditors attend meetings in person, but evidence indicates that attendance at meetings is very low and that many meetings are not attended at all.<\/p> <\/p> The 2013 report, \u201cReview of Insolvency Practitioner Fees\u201d by Professor Elaine Kempson, estimated that only 4% of creditors attend meetings in person and that fully secured creditors seldom attend in person.<\/p> <\/p> The report goes on to say that two firms had actually calculated the percentage of creditors attending meetings in person. A large firm had calculated that 1% of creditors do so, and a smaller firm had calculated the amount to be 3.5%.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1513", "label" : {"_value" : "Biography information for Jo Swinson"}
}
, "answeringMemberConstituency" : {"_value" : "East Dunbartonshire"}
, "answeringMemberPrinted" : {"_value" : "Jo Swinson"}
, "dateOfAnswer" : {"_value" : "2014-11-19", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-11-19T14:33:03.063Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "26"}
, "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"}
, "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"}
, "date" : {"_value" : "2014-11-07", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Insolvency"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Business, Innovation and Skills, what estimate his Department has made of the proportion of (a) secured and (b) unsecured creditors who attend creditor meetings during an insolvency procedure.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3952", "label" : {"_value" : "Biography information for Mr Toby Perkins"}
}
, "tablingMemberConstituency" : {"_value" : "Chesterfield"}
, "tablingMemberPrinted" : [{"_value" : "Toby Perkins"}
], "uin" : "213843"}
, {"_about" : "http://data.parliament.uk/resources/143353", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/143353/answer", "answerText" : {"_value" : " The Department for Business, Innovation and Skills is responsible for EU structural funds policy and regulations. The United Kingdom\u2019s Managing Authorities have responsibility for issuing guidance to recipients of the funds.<\/p> <\/p> In England, the Department for Communities and Local Government is the Managing Authority for the European Regional Development Fund (ERDF) and the Department for Work and Pensions is the Managing Authority for the European Social Fund (ESF).<\/p> <\/p> In Northern Ireland, Scotland and Wales, the Devolved Administrations are responsible for the management of the ERDF and ESF programmes.<\/p> <\/p> All the Managing Authorities have websites which give guidance to potential applicants for funding, as well as reports and publicity about their programmes.<\/p> <\/p> The links to the structural funds websites are as follows:-<\/p> <\/p> England<\/strong><\/p> <\/p> Department for Communities and local Government:<\/p> <\/p> https://www.gov.uk/erdf-national-guidance<\/a><\/p> <\/p> Department for Work and Pensions:<\/p> <\/p> https://www.gov.uk/government/collections/european-social-fund-2007-to-2013#guidance-and-regulations<\/a><\/p> <\/p> Northern Ireland<\/strong><\/p> <\/p> Department of Enterprise, Trade and Investment (ERDF):<\/p> <\/p> http://www.eucompni.gov.uk/<\/a><\/p> <\/p> Department of Education and Learning (ESF):<\/p> <\/p> http://www.delni.gov.uk/esf<\/a><\/p> <\/p> Scotland<\/strong><\/p> <\/p> Scottish Government:<\/p> <\/p> http://www.scotland.gov.uk/Topics/Business-Industry/support/17404<\/a><\/p> <\/p> |