§ Mr. Cryerasked the Secretary of State for Northern Ireland what is the estimated annual cost of monitoring the De Lorean Car Company by the various Government agencies involved; and what is the charge made by McKinsey and Co. for its work in monitoring the De Lorean Company.
§ Mr. Adam ButlerIt is not possible to assess the cost to the Government Department and agency involved of monitoring the progress of an individual company. McKinsey and Co. has been employed by the Northern Ireland Department Agency and I understand that the cost to date is £59,900.
§ Mr. Cryerasked the Secretary of Stale for Northern Ireland what is the composition of the board of the De Lorean Car Co. Ltd.; how many shares each director has; and how much was paid in directors' fees for 1979 and 1980.
§ Mr. Adam ButlerThe directors of De Lorean Motor Cars Limited are:
- J. Z. De Lorean
- M. Stylianides
- E. A. Cafeiro
- C. S. Harte
- A. Fetherston
- J. Daly
- G. Kimmerley
- C. R. Brown
- J. Stark
- D. Lander
- J. Sim
No shares are held by any of the directors; the equity structure of the company comprises 546,000 £1 ordinary 311W shares which are held by the De Lorean Car Company and 17,757,000 £1 redeemable preference shares which are held by the Northern Ireland Development Agency.
The amount paid in directors' fees is a matter for the company.
§ Mr. Cryerasked the Secretary of State for Northern Ireland what contract of service exists between the De Lorean Car Co. Ltd. and John De Lorean or the De Lorean Research Partnership Ltd.; and what is its annual value.
§ Mr. Adam ButlerThis is a matter for the company.
§ Mr. Cryerasked the Secretary of State for Northern Ireland (1) why officials from the Northern Ireland Development Agency and the Department of Commerce were not present at the meeting between him and Mr. J. De Lorean in August 1980 when a loan of £14 million was agreed;
(2) if he will place a copy of the reports provided by McKinsey and Company on the De Lorean Car Company in the Library;
(3) how attempts to raise further money by the issue of shares will affect the Government holding in the De Lorean Car Co. Ltd.; and what is the relationship between the Northern Ireland company and the De Lorean Car Co. Ltd. of America;
(4) how many employees of the Lotus Car Co. Ltd. Are working on the development and production of the De Lorean DMC 12; and what is the value of the contract with the Lotus Car Co. Ltd.;
(5) who employed the consultants A. Kearney in examination of the De Lorean project;
(6) how many houses have been provided for executive and managerial staff of the De Lorean Car Co. Ltd.; and at what cost;
(7) what fees are received by Mrs. De Lorean; and what services are provided by her for the De Lorean Car Co. Ltd.
§ Mr. Adam ButlerI shall reply to the hon. Member as soon as possible.