Insolvency

Business, Innovation and Skills written question – answered on 2nd July 2012.

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Photo of Jonathan Reynolds Jonathan Reynolds Labour, Stalybridge and Hyde

To ask the Secretary of State for Business, Innovation and Skills whether the proposed consultation on modernising insolvency rules will consider how to restore clarity to the current administration expense rules.

Photo of Norman Lamb Norman Lamb The Parliamentary Under-Secretary of State for Business, Innovation and Skills

The Government is aware of certain stakeholders’ concerns regarding a possible lack of clarity in the current administration expenses rules and has invited them to provide evidence on the impact the current expense regime is having in practice.

If the Government is persuaded that a case has been made for a change, then consideration can be given to whether this can be encompassed in the consultation on modernising insolvency rules, which it is anticipated will be published during 2013.

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