§ Mr. Arthur Lewis
asked the President of the Board of Trade whether he is aware that four washing machine manufacturers have recently gone into liquidation owing large sums to their creditors, and that in the most recent case the Imperial Domestic declared to their shareholders earlier this year that large profits would be available; and whether he will cause an investigation to be made under section 165 of the Companies Act, 1948, into the affairs of this company, which has been conducted in a manner oppressive to its shareholders.
§ Mr. Jay
Imperial Domestic Appliances Limited is not in liquidation. A receiver and manager has been appointed by the debenture holders in relation to the company and other companies in the same group. On present information there do not appear to be grounds for the appointment of an inspector under Section 165 of the Companies Act, 1948, to investigate the affairs of the company.