HC Deb 03 July 1934 vol 291 c1731
6. Mr. CRAVEN-ELLIS

asked the President of the Board of Trade whether the liquidator is yet in a position to make an estimate of the position of the industrial and ordinary life policy holders who were members of the Hearts of Oak Assurance Company, now in liquidation?

Mr. RUNCIMAN

The liquidator is not yet in a position to estimate the dividend which will be payable to the life policy holders as the valuation of their policies is not yet completed and the amount of assets available for distribution is dependent on the result of certain legal proceedings which have been instituted by direction of the committee of inspection.

Mr. CRAVEN-ELLIS

Can my right hon. Friend say how long it may be that we shall have to wait before this matter can be brought to a conclusion?

Mr. RUNCIMAN

I cannot say how long the legal proceedings will take. The delay will be governed by that fact.