HC Deb 25 January 1993 vol 217 cc553-4W
Mr. Vaz

To ask the President of the Board of Trade on what date he granted an extension to the liquidators of the Bank of Credit and Commerce International to the undertaking they gave on 14 January 1992 to hold a creditors' meeting.

Mr. Neil Hamilton

In view of the terms of the judgment of the vice-chancellor given on 2 March 1992 no formal extension was given to the liquidators in respect of the undertaking whch they gave on 5 December 1991 regarding the holding of a creditors meeting pursuant to section 141 of the Insolvency Act 1986. The liquidators have now sought and obtained the directions of the court with regard to the summoning and conduct of such a meeting which I understand will be held May 1993.

Mr. Vaz

To ask the President of the Board of Trade how many compromises he has sanctioned in respect of the liquidation of the bank of Credit and Commerce International; and what is the value involved.

Mr. Neil Hamilton

Twelve such sanctions have been given, 10 in respect of claims totalling £30,877,540 and two in respect of claims totalling 14,438,462 US dollars.

Mr. Vaz

To ask the President of the Board of Trade how many meetings he has had with the liquidators of the Bank of Credit and Commerce International.

Mr. Neil Hamilton

None.