HC Deb 17 November 1977 vol 939 c310W
Mr. Willey

asked the Secretary of State for industry whether the financial arrangements announced on 1st July 1974 by his predecessor for the purchase of the Court Line shipbuilding, shiprepairing and marine engineering companies have been completed.

Mr. Kaufman

Yes. The balance of the purchase price of £16 million, amounting to £3,188,000, was paid on the order of the High Court into the National Westminster Bank on 27th April 1976, and as part of a general settlement of all claims against those companies the Secretary of State for Industry has recently paid interest amounting to £594,000 on that balance. Only token provision was included in the 1977–8 estimates for this interest charge and I shall be seeking the approval of the House for a Supplementary Estimate in due course.