Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what plans they have, if any, to assess whether Company Voluntary Arrangements effectively protect the economic interests of HMRC, and those of creditors and property owners.

Company voluntary arrangements are a valuable part of the restructuring framework and the Government does not intend to conduct a review of them at this time. A company voluntary arrangement allows a financially distressed company to restructure its debts and avoid liquidation or administration. Approval of more than 75% of creditors is required to pass a company voluntary arrangement and any creditor may still apply to court if it feels its interests are being unfairly prejudiced, this provides an important safeguard for creditors, including HMRC and property owners.