§ Mr. ClaphamTo ask the Chancellor of the Exchequer (1) what the distribution of post-and pre-1990 cases is between Chester Street Insurance Holdings and Iron Trades Holdings Ltd; and which company has responsibility for pre-1972 cases; [150323]
(2) what the (a) estimated asset value and (b) estimated liabilities are of Chester Street Insurance Holdings; and how they are divided between post and pre-1972 cases. [150322]
§ Miss Melanie JohnsonThe provisional liquidators are currently assessing the information available about existing and potential claims.
§ Mr. ClaphamTo ask the Chancellor of the Exchequer what steps he is taking to ensure that pre-1972 cases held by Chester Street Insurance Holdings Limited are protected; and if he will make a statement. [150324]
§ Miss Melanie JohnsonIt is important to remember that it is the employer who holds the policy with Chester Street Insurance Holdings Limited not the employee, and the employer remains liable for claims made against them by their employees or former employees. The Government are aware of the issue raised by pre-1972 cases and are considering this issue carefully.
§ Mr. ClaphamTo ask the Chancellor of the Exchequer what the value was of the bonuses paid to the directors of Chester Street Insurance Holdings Limited in each of the last three years. [150325]
§ Miss Melanie JohnsonThis is a matter for the management of Chester Street Insurance Holdings Limited, but I understand that this concern has already been brought to the attention of the provisional liquidator, who will look into such issues as part of the job in winding-up the affairs of the company.
164W
§ Mr. ClaphamTo ask the Chancellor of the Exchequer what representations he has received about Chester Street Holdings Ltd., formerly known as Iron Trades Holding Ltd.; and if he will make a statement. [150320]
§ Miss Melanie JohnsonI have received a number of representations from hon. Members and others on behalf of those suffering asbestos-related disease as a consequence of the employment in firms whose employers' liability insurance is provided by Chester Street Insurance Holdings.
§ Mr. ClaphamTo ask the Chancellor of the Exchequer what assessment he has made of the reasons underlying the economic failure of Chester Street Insurance Holdings Ltd.; and if he will make a statement. [150321]
§ Miss Melanie JohnsonUnder the scheme of arrangement, the provisional liquidators are required to conduct a review of the affairs of the company, and the actions of both the directors and other parties.