HC Deb 12 July 1960 vol 626 c1169
37. Mrs. Braddock

asked the President of the Board of Trade if he will hold an inquiry into the announced voluntary liquidation of Francis Morton and Company Limited, constructional engineers, of Garston, Liverpool.

Mr. J. Rodgers

No, Sir. The Board of Trade has no power to investigate the affairs of a company which is in liquidation. That is the duty of the liquidators appointed by the members of the company.

Mrs. Braddock

Is the Parliamentary Secretary aware that the reasons being given for the voluntary liquidation are not considered by those who are working in the industry to be the correct ones? In view of the very prosperous times through which this industry has been going, is it not possible for some inquiry to be made, because unemployment will be the outcome of a voluntary liquidation in these circumstances?

Mr. Rodgers

All we know about this particular case is that two chartered accountants were appointed liquidators in March last but, under Section 334 of the Companies Act, the liquidator in a voluntary winding-up is required to report to the Director of Public Prosecutions if he suspects anything wrong.