Corporate Insolvency and Governance Bill — Report (and remaining stages) — Amendment 45 — 23 Jun 2020 at 18:15

Moved by Lord Hodgson of Astley Abbotts

45: After Clause 17, insert the following new Clause-“Review of pre-pack transactionsIn Schedule B1 to the Insolvency Act 1986, after paragraph 74 insert-“Review of pre-pack transactions(1) The assets of a company may not be transferred under the terms of a pre-pack transaction unless the proposed purchaser has obtained an opinion in writing from a member of the pre-pack pool that the transaction is not unreasonable.(2) In this paragraph, a “pre-pack transaction” means a transaction which is negotiated before a company enters administration, and under which all or a substantial part of the company’s assets are sold to an associate on or shortly after the appointment of an administrator.(3) For the purposes of sub-paragraph (2), “associate” has the meaning given in section 435 of the Insolvency Act 1986.””Member’s explanatory statementThis new Clause requires a positive opinion to be obtained from a member of the pre-pack pool before a company enters into a pre-pack transaction. The pre-pack pool is an independent body of experienced business people set up in response to the recommendations of Teresa Graham’s report.

Ayes 155, Noes 326.

Debate in Parliament |

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Baroness Altmann Conaye
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Lord Cooper of WindrushConaye
Lord Forsyth of DrumleanCon (front bench)aye
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Lord Hodgson of Astley AbbottsCon (front bench)aye
Lord Marlesford Conaye
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Baroness Wheatcroft Conaye
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Baroness Neville-Jones Con (front bench)no
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Lord Ribeiro Conno
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Baroness Verma Con (front bench)no
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Lord Wei Conno
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Baroness Wilcox Conno
Lord Willetts Conno
Baroness Williams of TraffordCon (front bench)no
Baroness Wyld Con (front bench)no
Lord Young of CookhamCon (front bench)no
Viscount Younger of LeckieCon (front bench)no
Lord Young of GraffhamConno
Lord Aberdare Crossbenchaye
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Baroness Boycott Crossbench (front bench)aye
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Lord Carlile of BerriewCrossbenchaye
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The Earl of ClancartyCrossbench (front bench)aye
Viscount Colville of CulrossCrossbench (front bench)aye
Baroness Coussins Crossbenchaye
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Lord Curry of KirkharleCrossbenchaye
The Earl of ErrollCrossbenchaye
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Lord Geidt Crossbenchaye
Baroness Grey-Thompson Crossbenchaye
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Baroness Hayman Crossbenchaye
Lord Kilclooney Crossbenchaye
Baroness Lane-Fox of SohoCrossbench (front bench)aye
Lord Lisvane Crossbench (front bench)aye
Lord Macpherson of Earl's CourtCrossbench (front bench)aye
Baroness Masham of IltonCrossbenchaye
Lord Mawson Crossbenchaye
Baroness Murphy Crossbenchaye
Baroness Neuberger Crossbenchaye
Baroness O'Loan Crossbenchaye
Baroness O'Neill of BengarveCrossbenchaye
Baroness Prashar Crossbench (front bench)aye
Lord Ravensdale Crossbenchaye
Lord Richards of HerstmonceuxCrossbenchaye
Lord Rowe-Beddoe Crossbench (front bench)aye
Lord Russell of LiverpoolCrossbench (front bench)aye
The Duke of SomersetCrossbenchaye
Lord St John of BletsoCrossbenchaye
Lord Thurlow Crossbench (front bench)aye
Lord Vaux of HarrowdenCrossbench (front bench)aye
Lord Walker of AldringhamCrossbenchaye
Baroness Watkins of TavistockCrossbench (front bench)aye
Lord Wilson of DintonCrossbenchaye
Baroness Young of HornseyCrossbench (front bench)aye
Lord Cameron of DillingtonCrossbench (front bench)no
Lord Carrington Crossbenchno
Lord Crisp Crossbenchno
Lord Dannatt Crossbenchno
Baroness Deech Crossbenchno
Lord Greenway Crossbenchno
Baroness Hogg Crossbenchno
Lord Kakkar Crossbench (front bench)no
Lord Laming Crossbench (front bench)no
Lord Low of DalstonCrossbench (front bench)no
Baroness Morgan of DrefelinCrossbenchno
Lord Pannick Crossbench (front bench)no
Lord Patel Crossbench (front bench)no
Lord Powell of BayswaterCrossbench (front bench)no
Lord Rana Crossbenchno
Viscount Waverley Crossbenchno
Lord Browne of BelmontDUPaye
Lord McCrea of Magherafelt and CookstownDUPaye
Lord Morrow DUPaye
Baroness Jones of MoulsecoombGreenaye
Lord Stoddart of SwindonIndependent Labouraye
Baroness Tonge Independent Liberal Democrataye
Lord Hope of CraigheadJudge (front bench)aye
Lord Judge Judge (front bench)no
Lord Adonis Labaye
Baroness Andrews Lab (minister)aye
Viscount Chandos Lab (minister)aye
Lord Faulkner of WorcesterLab (minister)aye
Lord Haskel Lab (minister)aye
Lord Hunt of Kings HeathLab (minister)aye
Baroness Kennedy of CradleyLabaye
Lord Liddle Lab (minister)aye
Lord MacKenzie of CulkeinLabaye
Lord Mendelsohn Lab (minister)aye
Lord Stone of BlackheathLabaye
Lord Triesman Labaye
Lord Allen of KensingtonLab (minister)no
Lord Alli Labno
Lord Anderson of SwanseaLab (minister)no
Baroness Armstrong of Hill TopLab (minister)no
Lord Berkeley Lab (minister)no
Baroness Billingham Labno
Lord Blunkett Labno
Lord Boateng Labno
Lord Brooke of AlverthorpeLabno
Lord Browne of LadytonLab (minister)no
Lord Campbell-Savours Lab (minister)no
Lord Carter of ColesLab (minister)no
Lord Cashman Labno
Lord Clark of WindermereLabno
Lord Collins of HighburyLab (minister)no
Baroness Corston Lab (minister)no
Baroness Crawley Lab (minister)no
Lord Darling of RoulanishLabno
Lord Davidson of Glen ClovaLab (minister)no
Lord Davies of OldhamLab (minister)no
Lord Davies of StamfordLab (minister)no
Lord Desai Lab (minister)no
Baroness Donaghy Lab (minister)no
Baroness Drake Lab (minister)no
Lord Dubs Lab (minister)no
Lord Falconer of ThorotonLab (minister)no
Lord Foulkes of CumnockLab (minister)no
Baroness Gale Labno
Lord Giddens Lab (minister)no
Lord Glasman Labno
Baroness Golding Labno
Baroness Goudie Lab (minister)no
Lord Grabiner Labno
Lord Grantchester Lab (minister)no
Lord Griffiths of Burry PortLabno
Lord Hain Lab (minister)no
Viscount Hanworth Lab (minister)no
Lord Harris of HaringeyLab (minister)no
Lord Haughey Labno
Lord Haworth Labno
Baroness Hayter of Kentish TownLab (minister)no
Baroness Healy of Primrose HillLab (minister)no
Lord Hendy Labno
Baroness Henig Lab (minister)no
Baroness Hilton of EggardonLab (minister)no
Lord Hollick Lab (minister)no
Lord Howarth of NewportLab (minister)no
Lord Hoyle Labno
Baroness Hughes of StretfordLabno
Baroness Jones of WhitchurchLab (minister)no
Lord Jordan Labno
Lord Kennedy of SouthwarkLab (minister)no
Lord Knight of WeymouthLab (minister)no
Baroness Lawrence of ClarendonLabno
Lord Lea of CrondallLabno
Lord Lennie Lab (minister)no
Baroness Liddell of CoatdykeLab (minister)no
Lord Lipsey Lab (minister)no
Baroness Lister of BurtersettLabno
Lord Livermore Lab (minister)no
Baroness Mallalieu Lab (minister)no
Lord Mandelson Labno
Baroness Massey of DarwenLab (minister)no
Lord Maxton Labno
Lord McAvoy Lab (minister)no
Baroness McDonagh Labno
Baroness McIntosh of HudnallLab (minister)no
Lord McKenzie of LutonLabno
Lord McNicol of West KilbrideLab (minister)no
Lord Monks Lab (minister)no
Lord Morris of AberavonLab (minister)no
Lord Murphy of TorfaenLabno
Baroness Osamor Lab (minister)no
Baroness Pitkeathley Lab (minister)no
Lord Ponsonby of ShulbredeLab (minister)no
Baroness Primarolo Lab (minister)no
Baroness Prosser Labno
Baroness Quin Lab (minister)no
Baroness Ramsay of CartvaleLabno
Lord Reid of CardowanLab (minister)no
Lord Robertson of Port EllenLabno
Lord Rosser Lab (minister)no
Lord Sawyer Labno
Baroness Sherlock Lab (minister)no
Viscount Simon Lab (minister)no
Baroness Smith of BasildonLab (minister)no
Baroness Smith of GilmorehillLabno
Lord Snape Lab (minister)no
Lord Soley Labno
Lord Stevenson of BalmacaraLab (minister)no
Baroness Taylor of BoltonLab (minister)no
Baroness Thornton Lab (minister)no
Lord Touhig Lab (minister)no
Lord Tunnicliffe Lab (minister)no
Lord Turnberg Labno
Baroness Warwick of UndercliffeLab (minister)no
Lord Watson of InvergowrieLab (minister)no
Lord Watts Lab (minister)no
Lord West of SpitheadLabno
Baroness Wheeler Lab (minister)no
Baroness Whitaker Labno
Lord Whitty Lab (minister)no
Baroness Wilcox of NewportLab (minister)no
Lord Wood of AnfieldLab (minister)no
Baroness Young of Old SconeLab (minister)no
Lord Alderdice LDem (front bench)aye
Lord Allan of HallamLDemaye
Baroness Bakewell of Hardington MandevilleLDem (front bench)aye
Baroness Barker LDem (front bench)aye
Lord Beith LDem (front bench)aye
Baroness Benjamin LDem (front bench)aye
Baroness Bonham-Carter of YarnburyLDem (front bench)aye
Baroness Bowles of BerkhamstedLDem (front bench)aye
Lord Bradshaw LDemaye
Baroness Brinton LDem (front bench)aye
Lord Bruce of BennachieLDem (front bench)aye
Lord Burnett LDemaye
Baroness Burt of SolihullLDemaye
Lord Campbell of PittenweemLDem (front bench)aye
Lord Chidgey LDemaye
Lord Clement-Jones LDem (front bench)aye
Lord Cotter LDemaye
Lord Dholakia LDem (front bench)aye
Baroness Doocey LDem (front bench)aye
Baroness Falkner of MargravineLDemaye
Baroness Featherstone LDemaye
Lord Foster of BathLDem (front bench)aye
Lord Fox LDem (front bench)aye
Baroness Garden of FrognalLDem (front bench)aye
Lord German LDem (front bench)aye
The Earl of GlasgowLDemaye
Lord Goddard of StockportLDem (front bench)aye
Lord Greaves LDemaye
Baroness Grender LDem (front bench)aye
Baroness Hamwee LDem (front bench)aye
Baroness Harris of RichmondLDem (front bench)aye
Baroness Humphreys LDem (front bench)aye
Baroness Hussein-Ece LDem (front bench)aye
Baroness Janke LDem (front bench)aye
Baroness Jolly LDem (front bench)aye
Lord Jones of CheltenhamLDemaye
Baroness Kramer LDem (front bench)aye
Lord Lee of TraffordLDemaye
Lord Loomba LDemaye
Baroness Ludford LDem (front bench)aye
Lord Marks of Henley-on-ThamesLDem (front bench)aye
Lord McNally LDem (front bench)aye
Lord Newby LDem (front bench)aye
Baroness Northover LDem (front bench)aye
Lord Oates LDem (front bench)aye
Lord Paddick LDem (front bench)aye
Lord Palmer of Childs HillLDem (front bench)aye
Baroness Parminter LDem (front bench)aye
Baroness Pinnock LDem (front bench)aye
Lord Purvis of TweedLDem (front bench)aye
Baroness Randerson LDem (front bench)aye
Lord Razzall LDem (front bench)aye
Lord Redesdale LDemaye
Lord Rennard LDemaye
Lord Roberts of LlandudnoLDemaye
Baroness Scott of Needham MarketLDem (front bench)aye
Lord Scriven LDem (front bench)aye
Lord Sharkey LDem (front bench)aye
Baroness Sheehan LDem (front bench)aye
Lord Shipley LDem (front bench)aye
Lord Shutt of GreetlandLDem (front bench)aye
Baroness Smith of NewnhamLDem (front bench)aye
Lord Stoneham of DroxfordLDem (front bench)aye
Lord Strasburger LDemaye
Lord Stunell LDemaye
Baroness Suttie LDem (front bench)aye
Lord Taverne LDemaye
Lord Thomas of GresfordLDem (front bench)aye
Baroness Thomas of WinchesterLDem (front bench)aye
Baroness Thornhill LDem (front bench)aye
Viscount Thurso LDemaye
Lord Tope LDem (front bench)aye
Lord Tyler LDem (front bench)aye
Baroness Tyler of EnfieldLDem (front bench)aye
Lord Verjee LDemaye
Lord Wallace of SaltaireLDem (front bench)aye
Lord Wallace of TankernessLDem (front bench)aye
Baroness Walmsley LDem (front bench)aye
Lord Willis of KnaresboroughLDemaye
Lord Wrigglesworth LDemaye
Baroness Nicholson of WinterbourneLDemno
Baroness D'Souza Non-affiliated (front bench)aye
Lord Smith of FinsburyNon-affiliatedaye
Baroness Amos Non-affiliatedno
Baroness Ashton of UphollandNon-affiliatedno
Lord Eatwell Non-affiliatedno
Lord Mackenzie of FramwellgateNon-affiliatedno
Baroness Ritchie of DownpatrickNon-affiliated (front bench)no
Lord Truscott Non-affiliatedno
Baroness Uddin Non-affiliatedno
Lord Wigley PCno
Lord Empey UUP (front bench)no
Lord Rogan UUP (front bench)no

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