§ 100. Mr. NORTON-GRIFFITHSasked the President of the Board of Trade if he will cause inquiries to be made into the conduct of the Omnium Insurance Company, Limited, and the London Scottish Insurance Company, Limited, whereby severe losses have been incurred by tradesmen, working men, and other policy holders, who are unable to obtain payment of losses insured against or return of premiums paid; and whether, in the public interest, the Board of Trade can take any steps in the matter?
The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Mr. M. Robertson)The Omnium Insurance Corporation, Limited, is being wound up voluntarily, and the Board of Trade have no jurisdiction to cause an investigation into the conduct of the business of a company in voluntary liquidation. The affairs of the United London and Scottish Insurance Company, Limited, which is being wound un under an Order of the Court, have been investigated by the Official Receiver, and I am having sent to the hon. Member a print of the observations which were issued to the creditors and shareholders. The Board of Trade are informed by the liquidator of the United London and Scottish Company, Limited, that no payment on account of claims can be made until certain litigation which is pending between the two companies is concluded.