§ Mr. ClaphamTo ask the Chancellor of the Exchequer (1) what measures he will introduce to stop companies and insurers avoiding their asbestos liabilities; [24878]
(2) if he will ensure that Treasury officials assist the lawyers acting for UK claimants to co-ordinate their claims against Turner and Newall with lawyers working for creditors against Federal Mogul; [24877]
(3) what money Turner and Newall put aside for future asbestos claims; and (a) whether this constitutes a trust and (b) how it is affected by the administration order; [24879]
(4) when he expects the stop that has been placed on compensation cheques by Turner and Newall to be lifted; [24880]
(5) what action he will take to ensure that the interests of UK asbestos victims are protected during (a) the administration of Turner and Newall and (b) the Chapter II reorganisation of Federal Mogul pending in the USA bankruptcy court in Wilmington, Delaware; [24876]
(6) what was the basis of the financial package Turner and Newall agreed with a consortium of European re-insurers to cap their asbestos liabilities in November 1996; [24883]
(7) if he will set up a public inquiry (a) to examine the sale of Turner and Newall to Federal Mogul and (b) to ascertain whether the company has been managed in accordance with good business practice; [24881]
(8) what the trading position of Turner and Newall is; and on what date it formally stopped trading in the U.K. [24875]
§ Ruth KellySince 1 October, Turner and Newall have been operating under an Administration Order, and as a consequence all legal actions against the company have been stayed. They are continuing to trade. We understand 331W the driver for the administration is to crystallise asbestos claims in the US and UK in a consistent and fair manner so the company can arrange for their payments. The administrators are exploring ways of trying to resolve this problem, and if necessary will seek direction from the courts to do that. We do not yet know when the stay on legal actions will be lifted. The insurance and compensation arrangements surrounding asbestos-related claims against Turner and Newall are very complex, and not yet completely clear. Officials are in contact with the administrators and are looking into this as a matter of urgency. Therefore I am not able to make further comments about Turner and Newall's insurance arrangements or payment of compensation claims.
Once the situation is clear the Government will be in a position to assess whether and what action is required.