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Insolvency Act

Volume 409: debated on Friday 18 July 2003

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To ask the Secretary of State for Trade and Industry how many cases of offences for (a) wrongful trading and (b) fraudulent trading under the Insolvency Act 1986 have been referred for prosecution by the Official Receiver in each year since 1997; and how many of these cases have resulted in successful prosecution in each year. [126657]

The information is as follows:

  • (a) Wrongful trading is not a criminal offence.
  • (b) Fraudulent trading under the Insolvency Act 1986 is not a criminal offence.
  • Both

    (a) and (b) are civil matters dealt with by a court on the application of a liquidator seeking a civil liability on an individual. As they both provide civil remedies, Official Receivers do not refer such matters for prosecution.

    Official Receivers do report alleged Fraudulent Trading offences under the Companies Act 1985. The number of convictions in respect of such offence reported by Official Receivers since 1997 have been.



    The above figures are for the calendar year starting on 1 January 1997.