§ 33. Mr. Bowen Wellsasked the Secretary of State for Trade and Industry what action his Department is taking to assist with the rehabilitation of companies in financial difficulties.
§ Mr. FletcherGenerally, the market is the best judge of prospects for companies in financial difficulties. But I am anxious to see that satisfactory procedures exist to enable the affairs of a company facing a financial crisis to be placed in the hands of an independent expert who will be able to pursue a programme for the rescue or reorganisation of the company's business. This is why the Government have incorporated in the Insolvency Bill the company administration procedure which it was recommended should be established by the review committee on insolvency law and practice.