To ask the Secretary of State for Trade and Industry what reports' she has received from the administrators concerning the conduct of the directors of Independent Insurance Company; and what action she intends to take concerning the company's collapse. [126073]

On 17 June 2001, the High Court of Justice appointed provisional liquidators of Independent Insurance Company Ltd. The provisional liquidators are responsible for the protection of the company estate until the court determines the winding up petition presented against the company. There is no requirement to submit conduct reports on the company directors, until such time as a winding up order is made by the court, at which time the business affairs and failure of the company would be investigated by the Official Receiver.