HC Deb 10 August 1916 vol 85 c1232

asked the Chancellor of the Exchequer how many British creditors have been paid off by the receiver of the Deutsche Bank and how many remain to be paid off; what amount of securities have been transferred to the Public Trustee and how many remain to be so transferred; and whether arrangements will be made for all this remaining work to be done by Sir W. Plender without employing German clerks, who will preserve the information for use after the War is over?


Since the outbreak of war the Deutsche Bank, London Agency, has discharged its indebtedness to British, Allied and Neutral creditors to the extent of about £10,000,000. The amounts still unpaid approximate to £200,000 and there are certain contingent liabilities. Steps are being taken to vest the bank's securities, amounting to several million pounds, in the Public Trustee, but some time must elapse before the vesting is completed. It is necessary, in order to complete this work as rapidly as possible, to retain certain responsible officials of the bank, bat they are not in a position to acquire any valuable information other than that they possessed at the outbreak of war.


How is it that it takes two years to transfer securities from the bank to the Public Trustee?


I shall be happy to pass the question on to the Public Trustee. I am unable to answer it myself.