§ Mr. HardyTo ask the Chancellor of the Duchy of Lancaster what is the sum recovered so far from the Barlow Clowes international fund; and how much has been returned to investors.
§ Mr. MaudeI understand the gross realisations, including bank interest, made by the receivers of funds promoted by Barlow Clowes International Limited amount so far to approximately £20 million.
No distribution has yet been made to BCI investors pending the outcome of three court cases, two of which have already been heard with judgment reserved. The third case, to be heard in late June, will determine the basis upon which each individual investor's entitlement to any distribution will be calculated. I understand that it is hoped that after judgment of the three cases an interim distribution to investors in BCI may be made in the late summer or autumn this year.