Written question asked by Lord Harrison (Labour) on Friday, 26 February 2016, in the House of Lords. It was due for an answer on Friday, 11 March 2016. It was answered by Baroness Neville-Rolfe (Conservative) on Monday, 14 March 2016 on behalf of the Department for Business, Innovation and Skills.

Insolvency

Question: To ask Her Majesty’s Government what assessment they have made of the impact of the European Commission's Recommendation in 2014 on a new approach to business failure and insolvency on the UK's insolvency regime.

Answer: The UK’s flexible and effective restructuring and insolvency regime is very much in keeping with the general themes of the EU Recommendation. Following the European Commission’s 2014 Recommendation, the Government conducted a call for evidence seeking the views of stakeholders and submitted a response to the Commission’s survey on how Member States comply with the Recommendation. The Government published the UK’s response in August 2015. This can be accessed here: https://www.gov.uk/government/consultations/european-commission-recommendation-on-business-failure-and-insolvency-call-for-evidence

Secondary information