HC Deb 29 November 1916 vol 88 cc352-3W

asked the Chancellor of the Exchequer if, in the winding up of the affairs of the London agency of the Disconto-Gesellschaft, with a view to making the realisable assets available to meet the liabilities and for discharging the liabilities as far as practicable, British creditors of the head office of the Disconto-Gesellschaft are to be repaid pari passu with the claim of the Bank of England against the head office of the bank in respect of all advances made under the Government acceptances scheme of September, 1914, or is the Bank of England to be given a preference over British creditors of the head office of the Disconto-Gesellschaft?


I am not aware whether the Bank of England is a creditor of the head office of the Direktion der Disconto-Gesellschaft. If so, it is in precisely the same position as the other creditors in this country of that office. The debt to the Bank of England in respect of the advance made under the Government scheme of 1914 is a debt due by the London agency to which the advance was made. As the hon. Member is no doubt aware, all the other British creditors of the London agency have received payment in full of their debts.