§ Mr. CousinsTo ask the Secretary of State for Trade and Industry (1) on what date his Department became aware that the latest accounts of Polly Peck Limited show current liabilities of £800,000,000;
(2) on what date his Department became aware that brand names and goodwill appeared as substantial assets in the latest accounts of Polly Peck Limited.
§ Mr. Redwood[holding answer 29 October 1990]: I assume the hon. Member is referring to Polly Peck International plc, which is the listed company. The latest accounts received by the Department are those for the year ending 31 December 1989. These were filed at Companies house on 7 August 1990 and made available to searchers on 13 August. The subsequent interim statement is not required to be filed. The level of borrowings in any company and their composition are matters for the company, its shareholders and bankers, not for Government. If a company is no longer able to pay its bills then there are provisions for creditors under the insolvency legislation.