HC Deb 09 November 1920 vol 134 cc1024-6W

asked the Chancellor of the Exchequer what progress has been made with the liquidation of the Deutsche Bank; and what is proposed to be done with its securities, deposited and otherwise?


I have been asked to reply. The realisations in the liquidation of the London Agency of the Deutsche Bank up to date, after discharging claims of British, allied, and neutral creditors, are represented by a sum in hand of £1,001,212. It will not be possible to complete the liquidation for a considerable time, on account of the difficulty of realising assets in foreign countries, including Russia. There are further claims of British, allied, and neutral creditors amounting approximately to £220,000, which cannot be dealt with until a decision of the High Court has been obtained on an application for directions which is now pending. The securities received from the head office of the bank in Berlin have been vested in the Public Trustee and lodged at the Bank of England on his account. So far as such securities belong to the Deutsche Bank, Berlin, or to German nationals, they will be held subject to the charge under the Treaty of Peace with Germany. In certain cases securities have been claimed as belonging to persons of British, allied, or neutral nationality, and on production of the necessary evidence of nationality and pre-War ownership the Board of Trade have authorised the release in cases where the applicants were not indebted to the bank.


asked the Chancellor of the Exchequer whether the liquidation of the pre-War position of the London branch of the Deutsche Bank is now completed; whether he will publish the statement of the liquidator and a list of the securities deposited by him in the Bank of England; whether it is the intention of His Majesty's Government to return these securities without consideration to the proprietors of the Deutsche Bank, Berlin; and, if not, whether His Majesty's Government have decided what to do with the proceeds when the securities shall have been sold?


I have been asked to reply. I would refer my hon. Friend to the answer which I have given to-day to my hon. Friend the Member for Twickenham (Sir W. Joynson-Hicks). I would only add that there does not seem to be any necessity to publish a list of the securities.

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