Insolvency

(asked on 24th April 2019) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what public consultation his Department is undertaking with the insolvency and restructuring profession on his Department’s proposed reforms of the corporate insolvency framework.


Answered by
Kelly Tolhurst Portrait
Kelly Tolhurst
This question was answered on 1st May 2019

The Government regularly consults with and discusses matters of policy with a wide range of stakeholders in order to deliver effective, evidence-based reforms. This reflects the Government’s commitment to open and consultative policy making.

In August 2018 the Government published its response to the 2016 ‘Review of the Corporate Insolvency Framework’ consultation and 2018 ‘Insolvency and Corporate Governance’ consultation. The Government outlined in its response its intention to proceed with a comprehensive package of reforms aimed at improving the prospects of company rescue for financially distressed companies, while improving corporate governance to ensure those affected by a company’s financial difficulties are treated fairly.

Since publication of the response, officials have continued to consult with a range of interested parties, including representatives from the insolvency and restructuring profession, on the detail of the proposed reforms.

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