HC Deb 09 March 1979 vol 963 cc841-2W
Mr. Wrigglesworth

asked the Secretary of State for Trade on what grounds his Department ordered the provisional winding-up of Barnett Christie Ltd., bankers, of 16 Berkeley Street, London; and if he expects to be able to take any action to protect the interests of depositors.

Mr. Clinton Davis

On 11 December 1978, the High Court appointed a provisional liquidator for Barnett Christie Limited to protect the assets of the company pending the hearing of a petition for winding-up on 22 January 1979 when, in fact, a winding-up order was made. The petition was presented because it appeared to my right hon. Friend expedient in the public interest for the company to be wound-up, and there had been default in delivery of the accounts required by the Protection of Depositors Act 1963. In presenting the petition and applying immediately for the appointment of a provisional liquidator, my right hon. Friend took all such action as was open to him to protect the interests of depositors, who, in due course, will participate in any dividend payble to unsecured creditors in the liquidation.