The scheme will support Cook customers facing serious hardship arising from life-changing injuries, illness or loss of life for which Cook’s UK business would have been liable.
A number of claimants were left without recourse when Cook was liquidated on 23 September.
It follows a pledge by business secretary Andrea Leadsom in November setting out the government’s commitment to providing support for those with the most serious claims.
The new legislation will also include measures to ensure consumers and the taxpayer “do not lose out from similar situations in the future relating to outstanding personal injury claims in company insolvency”.
The measures were detailed in the government’s new legislative programme on Thursday (19 December).
