HC Deb 18 July 1918 vol 108 cc1206-7
57. Sir J. BUTCHER

asked the President of the Board of Trade what steps have been taken to put an end to the businesses carried on by the London agencies of the German and Austrian banks?


Orders have been made under the Trading With the Enemy (Amendment) Act, 1916, for the winding-up of the businesses of the German and Austrian banks, and the Senior Official Receiver in Companies Liquidation has been appointed controller to conduct the winding-up. I would add that Sir William Plender himself suggested that the winding-up of these businesses should be entrusted to an official of the Board of Trade, and he has been good enough to offer to give the controller any assistance in his power. I should like to take this opportunity of expressing the sense of the Government of the great debt they owe to Sir William Plender for the invaluable work which he has performed during the last four years as controller of these banks under the licences hitherto issued. I understand that the result of his administration has been that liabilities to British, Allied, and neutral creditors have been satisfied to the extent of £28,000,000.


Are we to understand that the liquidation of these banks is to be expedited as much as possible?


Would my right hon. Friend say if there is a list of people who, following the advice of the Leader of the House given a year or two ago to invest their capital abroad, have invested their money in these German banks?


Are we to understand that Sir William Plender has received no reward for his services?


Sir William Plender did receive remuneration, but on a very modest scale.