HC Deb 30 January 1990 vol 166 cc89-90W
Mr. David Atkinson

To ask the Secretary of State for Trade and Industry on which date Barlow Clowes investors will begin to receive the detailed offer referred to in his statement of 19 December 1989.

Mr. Redwood

Messrs. Cork Gully and Ernst and Young, who are making the payments as the Department's agents, have informed me that all investors have now been sent a letter setting out their entitlement under the scheme of payments. Anyone who believes that he is entitled to claim but who has not yet received a letter should write to the Department's agents at Queensway house, London road, South Poynton, Cheshire SK12 1NJ. Investors have been asked to return their forms by 19 February, although claims made after that date may be accepted if good reason is shown for the delay. In the interests of prompt payment of claims investors should make sure that the deeds of assignment they have been asked to sign are properly completed and dated: some 30 per cent. of those returned so far have not been dated, and this will inevitably delay payment in these cases.

The payment to investors includes a sum representing interest up to 31 December 1989, as referred to in paragraph 8.19 of the Parliamentary Commissioner's report and in the letters sent to investors. I regret that due to a clerical error annex B to the Government's observations on the Parliamentary Commissioner's report contained the words "the date of payment" instead of "31 December 1989".

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