Monarch Airlines: Insolvency

(asked on 24th October 2017) - View Source

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

To ask Her Majesty's Government what assessment they have made of the position of KPMG as administrators to Monarch Airlines, in the light of that firm's commercial relationships with Monarch, Greybull Capital, the owner of Monarch, and Greybull's offshore affiliates.


Answered by
Lord Henley Portrait
Lord Henley
This question was answered on 31st October 2017

Government does not have a role in the appointment of administrators, nor does it have direct control of their actions. All insolvency practitioners are subject to an insolvency code of ethics, which sets out the fundamental principles of integrity, objectivity and confidentiality.

Prior to accepting an insolvency appointment, the insolvency practitioner must check whether the appointment might carry any threat to these fundamental principles, for example a conflict of interest and If the threat cannot be reduced to an acceptable level, they should not accept an appointment.

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