Greensill: Redundancy Pay

Department for Business and Trade written question – answered at on 4 December 2023.

Alert me about debates like this

Photo of Nick Smith Nick Smith Shadow Deputy Leader of the House of Commons

To ask the Secretary of State for Business and Trade, with reference to the Answer of 23 April 2021 to question 183281 on Greensill: Redundancy Pay, what estimate he has made of the amount of (a) statutory redundancy pay, (b) statutory holiday pay, (c) statutory notice pay and (d) the protective award settlement paid by from the public purse to former Greensill Capital employees since the collapse of that company.

Photo of Kevin Hollinrake Kevin Hollinrake Parliamentary Under Secretary of State (Department for Business and Trade)

The Redundancy Payments Service (RPS) is dealing with two cases: Greensill Capital Management Company (UK) Limited and its subsidiary, Greensill Capital (UK) Limited.

In respect of Greensill Capital Management Company (UK) Limited the Redundancy Payments Service (RPS) has paid out the following statutory payments to date:

  • Redundancy Pay £188,920
  • Holiday Pay £321,639
  • Loss of Notice Pay £269,578
  • Protective Award £1,228,440

In respect of the subsidiary company, Greensill Capital (UK) Limited, to date no claims have yet been received and no payments made.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.