Carillion: Insolvency

Department for Business, Energy and Industrial Strategy written question – answered on 29th January 2018.

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Photo of Bill Esterson Bill Esterson Shadow Minister (Business, Energy and Industrial Strategy), Shadow Minister (International Trade)

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 22 January 2018 to Question 123102, on Carillion: Insolvency, for how long the major high street lenders indicated they are prepared to put in place (a) overdraft extensions, (b) payment holidays and (c) fee waivers.

Photo of Andrew Griffiths Andrew Griffiths Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The high street lenders have not set any time limit. UK Finance are clear that the High Street Lenders are prepared to have these measures in place as long as needed to deal with the cash flow difficulties that solvent members of the Carillion supply chain are dealing with in the immediate aftermath of the collapse. Where appropriate, lenders are contacting customers and are putting in place emergency measures, including overdraft extensions, payment holidays and fee waivers to ensure those facing short term issues can be helped to stay on track. As a result £900 million has been made available.

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