Mr. W. A. JENKINSasked the President of the Board of Trade if he is aware that, although a provisional liquidator of the City Life Assurance Company, Limited, in liquidation, was appointed by the Court on 2nd July, 1923, the business is still dragging on; what steps, if any, he proposes to take to have the winding-up completed without undue delay; and if the endowment certificate holders in the company are fully secured?
Mr. WEBBThe work involved in the liquidation of an assurance company is of such a nature that it is inevitable that a considerable time should elapse before the liquidation is closed. I am satisfied that the Official Receiver, who is liquidator of the company referred to, is taking all practicable steps to expedite the work, and it is hoped that a dividend may be paid within the next 12 months. On the facts at present before him, the Official Receiver is of opinion that the endowment certificate holders are fully secured.