Brexit & EconomyPoliticsAnna Soubry handed insolvency brief in new government role

Anna Soubry handed insolvency brief in new government role

Anna Soubry handed responsibility for the Insolvency Service as part her role as minister for small business, industry and enterprise

CONSERVATIVE MP Anna Soubry has been handed responsibility for the Insolvency Service as part her role as minister for small business, industry and enterprise.

Soubry, the MP for Broxtowe, was handed the business brief last week, taking on the newly-created role of small business minister in the Department for Business, Innovation and Skills and, according to the BIS website, will take on additional responsibility for insolvency, replacing Jo Swinson.

The government is consulting on how to address the inherent conflicts that exist within employment legislation and insolvency law, while Soubry will also need to address the long-running battle with the insolvency profession over its exemption from no-win-no-fee legal reforms.

In March, the Insolvency Service launched a call for evidence on the issue, after two influential groups of MPs demanded a change to the law. In a damning report into the collapse of delivery firm City Link and the actions of private equity owners Better Capital, MPs from two select committees said the rules governing insolvencies are too heavily skewed in favour of directors and investors.

As a result of the recommendations, previous business minister Jo Swinson launched a consultation on how to improve the consultation and information sharing process between employers and employees when a company is faced with insolvency and how to make it more effective.

 

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