§ Mr. Michael McNair-Wilsonasked the Secretary of State for Northern Ireland (1) what rights to the carbon fibre technology used in the Lear Fan project were, or are, held by Her Majesty's Government;
(2) against which assets belonging to the Lear Fan company the financial investments of Her Majesty's Government were secured; and to what extent these included a share in the technology of the aircraft.
§ Dr. BoysonThe Department of Economic Development holds a first fixed and floating charge on all assets of Lear Fan Ltd. The details of the agreements on the technology are complex. In summary the Lear Fan technology was acquired in June 1980 by the Lear Fan Research Ltd. Partnership from Lear Fan Corporation in return for an investment of $30 million in the project. The research partnership subsequently granted an exclusive licence to Lear Fan Ltd. to exploit the technology. When the September 1982 financial agreement was put in place the Department of Economic Development was interposed in the licensing arrangement. Under the terms of this arrangement the Department, on foot of a default by Lear Fan Ltd., has a limited period in which to seek a new sub-licensee or exploit the technology itself. Legal advice is being obtained on the current position.