MPs slam unfair delay over Farepak findings

THE fact that Oldham families are still awaiting the results of an official investigation into the collapse of Christmas savings company Farepak is “not acceptable”, Harriet Harman believes.

The Commons Leader promised to “get some answers” on why the report by the Companies Investigations Branch (CIB) of the Department for Business, Enterprise and Regulatory Reform had not been published.

The investigation was completed in May but has not been made public as the report is subject to limited disclosure.

The CIB is taking independent advice on whether the evidence in the report warrants legal action.

Some 150,000 people lost more than £40 million when the firm went into administration in October, 2006.

They included a group of Blue Coat School cooks, agents for friends and neighbours, and five generations of an Oldham family which lost £4,000 paid for Farepak vouchers.

Creditors, including customers, are only expected to get 5p in every pound.

Labour’s Jim Devine called for a debate about the probe.

He said: “It is nearly two years since the collapse — can we have a debate in Government time about the inquiry that was set up last year? It was due to report by Christmas, it was due to report by Easter, it was due to report before the recess and didn’t do so.

“Tens of thousands of decent hard–working families deserve to know what happened to their money.”

Ms Harman told him: “I think the whole House will have every sympathy with the points that you have made.

“ “We really do need to get this sorted out. I will work with the deputy leader of the House to make sure we get some answers on this fast.”