Corporate Insolvency and Governance Act 2020 Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Baroness McIntosh of Pickering
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Corporate Insolvency and Governance Act 2020
Baroness McIntosh of Pickering Excerpts(4 years, 4 months ago)
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Lord Callanan
The latest official statistics show that the number of corporate insolvencies decreased by half in June 2020 compared to the same month last year. However, the noble Baroness is right to say that we may well face a large increase in the months to come. We have been working with the courts and have provided the resources to make sure that they can satisfy that demand.
Baroness McIntosh of Pickering (Con) [V]
My Lords, my question goes to the independence of the monitor. Will my noble friend and the Government consider requiring a more stringent review by the monitor to support the rescue of a company as a going concern?
Lord Callanan
Again, we debated these matters extensively during the passage of the legislation. We are satisfied that monitors are appropriately regulated and that their independence is guaranteed. However, we will keep all these matters under review.