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Insolvency

Volume 977: debated on Tuesday 29 January 1980

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asked the Secretary of State for Trade whether Sir Kenneth Cork, GBE, is conducting an inquiry into the law relating to insolvency; if so, when he expects to receive this report; and whether the committee has been directed especially to consider the provisions of section 66(1) of the Bankruptcy Act 1914.

Yes. The Insolvency Law Review Committee under the chairmanship of Sir Kenneth Cork, GBE, was appointed in January 1977 to review the law and practice relating to insolvency, bankruptcy, liquidations and receiverships in England and Wales and to consider what reforms are necessary.On present information the committee is expected to report towards the end of 1980.The whole question of interest in insolvencies, including interest on debts under section 66 of the Bankruptcy Act 1914, is being considered by the committee.