HC Deb 05 June 1919 vol 116 cc2214-5
89. Mr. G. JONES

asked the President of the Board of Trade whether he is aware that there were many English employés in the Deutsche Bank (Berlin) London agency at the outbreak of war; that they had contributed to an insurance and pension fund controlled by the Deutsche bank an annual premium of 4 per cent, on their salaries and that a further annual premium of 9 per cent, on their salaries was contributed by the Deutsche Bank; that this insurance and pension scheme was one of the inducements to such employés to eater into the employment of the Deutsche Bank; and whether he will take steps to secure compensation to such English employés for their loss of right in such insurance and pension fund out of the assets of the Deutsche Bank now in the hands of the official receiver?


The facts are correctly stated in the question, but I am informed that the contributions of the employés were prior to the War, remitted to Berlin to the German society which administered the pension fund. The question whether the claims of the employés can be paid out of the assets in the hands of the Controller appointed to wind up the business of the London agency of the Deutsche Bank is one which can only be determined by the Court, but in the event of the employés applying to the Court the Official Receiver will assist them in every way possible to enable the Court to arrive at a proper conclusion.