Bank of Credit and Commerce International (Hansard, 21 July 1997)

§ Mr. Vaz
To ask the President of the Board of Trade if she will investigate the total costs of the English liquidators of BCCI to date for dealing with staff loans of former employees. [9893]

§ Mr. Nigel Griffiths
No. This is a matter for the liquidators and the liquidation committee of creditors. I met Tony Scott of the liquidation committee on 10 June.

§ Mr. Vaz
To ask the President of the Board of Trade if she will make a statement on the issue of writs by the English liquidators of BCCI against former employees of BCCI. [9891]

§ Mr. Griffiths
No. This is a matter for the liquidators. The bringing of any such proceedings requires the sanction of the liquidation committee.

§ Mr. Vaz
To ask the President of the Board of Trade how much was set aside by the BCCI liquidators for the payment of the first dividend; how much has actually been paid; what is the balance amount remaining; and what plans the liquidators have to pay a second dividend. [9895]

§ Mr. Griffiths
Details of the first dividend payment are given in the report of the joint liquidators to the Secretary of State, pursuant to regulation 14 of the Insolvency Regulations 1994, for the period 16 January 1996 to 15 January 1997, copies of which have been placed in the Library of the House and a copy of which I sent to my hon. Friend on 30 May 1997.

§ Mr. Vaz
To ask the President of the Board of Trade how much extra money has been collected by the liquidators of BCCI since the payment of the first dividend for the payment of the second dividend; and what costs and fees have been incurred by the liquidators for this. [9896]

§ Mr. Griffiths
This information will be contained in the next annual report of the liquidators to the Secretary of State, pursuant to regulation 14 of the Insolvency Regulations 1994 which will cover the period 16 January 1997 to 15 January 1998.

§ Mr. Vaz
To ask the President of the Board of Trade if she will take steps to have the costs and legal fees of the liquidators of BCCI audited by an independent accountant. [9890]

§ Mr. Griffiths
No. These are matters for the liquidation committee of creditors or for the court.