§ Mr. Campbell-SavoursTo ask the President of the Board of Trade if she will institute inquiries under section 432 of the Companies Act 1985 into the price paid and arrangements made for the sale and distribution of the assets, including stock, of Cabouchon jewellery and the Cabouchon trade mark. [42565]
§ Mr. Nigel GriffithsMy Officials have liaised with the administrative receivers and a petition has just been presented in the High Court for the compulsory winding up of the company. The petition will be heard on 3 June 1998 and if, as expected, the company is wound up, the Official Receiver will have a statutory duty under the Insolvency Act 1986 to investigate the causes of the company's failure. In such circumstances no purpose would be served in using Companies Act inquiries to duplicate the Official Receiver's investigation.