Neil Parish raises concerns that unscrupulous companies may misuse new bankruptcy process

During a debate on reforms to the process by which a person applies for bankruptcy, Neil Parish calls for the new Adjudicator to have powers to investigate cases where there is suspicion that a company is using bankruptcy as a technical measure and possibly taking other companies down with them. Neil Parish (Tiverton and Honiton) (Con): I merely seek reassurance from the Minister. I can understand the need to simplify the bankruptcy procedure for those who, through no fault of their own, seek it because of their debts, and that is absolutely right. I am slightly concerned, however, that some companies shift money around and go bankrupt because it suits them to do so, taking other companies down with them. I want the Minister to reassure me that the adjudicator, or whatever he or she will be called, will have the powers to look into such cases so that it is not easy to go bankrupt when one should not. Such companies bring other good companies down with them.| Hansard