HC Deb 07 June 1888 vol 326 c1368
MR. J. CHAMBERLAIN (Birmingham, W.)

asked the President of the Board of Trade, Whether it is true that the Ruabon Colliery, Limited, went into liquidation in the year 1878; whether the colliery was subsequently sold for £10,600, out of which the bondholders have received only about £1,500 in dividends; whether the receiver, in his double capacity as receiver and agent for the bondholders, has been paid a sum of over £2,600 for expenses in winding up; whether it is true that the firm of Hermann Loog, Limited, London Wall, stopped payment on January 1, 1887; and, whether, since that time, no meeting of the creditors has been called, nor any Report made to the creditors as to the progress of the liquidation?


I am informed that the Ruabon and North Wales Colliery Company (Limited) was ordered to be wound up in October, 1878, and on November 28 of the same year Mr. John S. H. Banner was appointed official liquidator. The proceedings in this case were very complicated; but I shall be very happy to show the right hon. Gentleman the Papers relating to it. The file of the Company does not show that the liquidation was ever closed. The assets of the colliery appear by a contract filed with the Registrar of Joint Stock Companies to have been sold by the official liquidator, acting in conjunction with the representatives of the creditors, debenture-holders, and contributories of the Company, to a Company formed for the purpose of purchasing the property, called the Preesgweene Colliery Company (Limited). That Company was ordered to be wound up by Mr. Justice Day in 1882, and the liquidation does not appear to have been closed. With regard to the second Company referred to by the right hon. Gentleman, I am informed that it was ordered to be wound up on January 22, 1887, and that no meeting of creditors has been called, nor any Report made to them.