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Insolvency: Prosecutions

Volume 486: debated on Wednesday 21 January 2009

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform how many prosecutions there have been for trading when knowingly insolvent in each of the last three years. (249093)

Section 458 of the Companies Act 1985 and section 993 of the Companies Act 2006 create the offence of carrying on a business with the intent to defraud creditors or for any fraudulent purpose. Prosecutions for this offence are brought to cover a range of fraudulent activity, including trading while insolvent.

This Department has brought prosecutions in respect of this offence in the following numbers in each of the last complete financial years:

Number

2005-06

25

2006-07

20

2007-08

16

Note:

These figures refer to charges finalised within the years in question; not numbers of defendants or cases.

Other prosecuting authorities may also have prosecuted using this offence.