§ Lord Oakeshott of Seagrove Bayasked Her Majesty's Government:
What estimates they have received from (a) Credit Suisse First Boston and (b) Slaughter and May of the fees they are likely to charge for advising them in relation to the financial restructuring of British Energy plc; and [HL1221]
What fees they have so far paid to (a) Credit Suisse First Boston and (b) Slaughter and May for advising them in relation to the financial restructuring of British Energy plc. [HL1222]
§ The Parliamentary Under-Secretary of State, Department of Trade and Industry (Lord Sainsbury of Turville)In the light of the uncertainty over the duration and nature of any restructuring of British Energy while its restructuring proposals are considered by the company's creditors, the Government have not requested estimates from any adviser of likely fees over the longer term. Short-term estimates are requested, as appropriate, as part of overall adviser monitoring. To date, the department has been invoiced for or paid around £2.7 million to Credit Suisse First Boston and around £2 million to Slaughter and May.