Insolvency

Business, Innovation and Skills written question – answered on 2nd September 2013.

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Photo of Graham Brady Graham Brady Chair, Conservative Party 1922 Committee

To ask the Secretary of State for Business, Innovation and Skills what representations he has received on plans by creditors to introduce modifications to Individual Voluntary Arrangements (IVAs) that may make it difficult for an IVA to be provided to a debtor by a licensed insolvency practitioner; and whether he has any plans to bring forward further regulation in light of these plans.

Photo of Jo Swinson Jo Swinson The Parliamentary Under-Secretary of State for Women and Equalities, The Parliamentary Under-Secretary of State for Business, Innovation and Skills

I have received three letters on this issue; I do not have any plans to bring forward further regulation in light of these plans.

We are, however, considering Professor Kempson's recommendations following her review of insolvency practitioner fees and will respond shortly.

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