3 Acknowledged

We were not reassured by the evidence presented by King & King and note the...

Conclusion
We were not reassured by the evidence presented by King & King and note the legal restrictions placed upon Mr Patel, and other auditors who had previously audited GFG Alliance companies, by Sanjeev Gupta.
Government Response Summary
The government acknowledges that complex corporate structures should not be a legal barrier to scrutiny but expresses a desire not to restrict business structuring, without committing to specific actions.
Paragraph Reference
44
Government Response
Acknowledged
HM Government Acknowledged
3. Complex corporate structures exist for a variety of reasons, and the government does not wish to restrict the ability of businesses to structure themselves appropriately. However, the government agrees that those structures should not be a legal barrier to proper scrutiny of companies such as the GFG Alliance.
Source
Committee Business and Trade Committee
Inquiry Liberty Steel and the Future of the UK Steel Industry
Report Fourth Report - Liberty Steel and the future of the UK steel Industry 05 Nov 2021 HC 821
View on Parliament website
Addressee Bodies
Department for Business and Trade
Timeline
Recommendation age 4.7 yrs
Report published 05 Nov 2021