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£300m set aside for ‘failure regime’

Two regulatory bodies, Monitor and the NHS Trust Development Authority have revealed plans for a £300m joint contract that will put failing Trusts through the special administration regime, the Health Sevice Journal (HSJ) reports

HSJ adds that they will submit a tender for a four-year framework contract, with the £300m sum expected to pay for between 20 and 60 trusts to be taken through the failure regime over that time.

Companies appointed to the framework will need to be registered insolvency practitioners, sources say, with Monitor pointing out that the £300m figure was an upper limit for the tender and the sums spent were likely to be much smaller.