Early day motion tabled by primary sponsor Mary Glindon (Labour), on Thursday, 8 January 2015, in the House of Commons. It is signed by 69 members in total.

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EFFECT OF THE LEGAL AID, SENTENCING AND PUNISHMENT OF OFFENDERS ACT 2012 ON INSOLVENCY LITIGATION

That this House notes the recent report by Professor Peter Walton on the likely impact of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 on insolvency litigation; further notes that Professor Walton's empirical evidence shows that from April 2015 the Act will have a negative impact on creditors, including the taxpayer and businesses, as well as the public interest; notes concerns from business groups representing creditors, including the Institute of Credit Management and the British Property Federation; is concerned that more than £160 million owed to businesses and the taxpayer each year could remain with directors or third parties that have wrongly, negligently or fraudulently taken money out of a business as a result of the Act; and calls on the Government to review the legislation before it comes into force in April 2015.

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Secondary information

Type

Early day motion

Reference

673 

Session

2014-15

Other sponsors

Peter Bottomley

Mark Durkan

Valerie Vaz

Grahame Morris

Liz McInnes

Subjects

Administration of justice Companies Financial services Insolvency

Link

View this Early day motion on www.parliament.uk