§ Mr. WatsonTo ask the Secretary of State for Scotland at what point Scottish Enterprise was informed of the financial difficulties which eventually led to the Turing Institute being forced into liquidation; what part was played by Scottish Enterprise in the decision that the468W institute could not continue trading; and whether financial assistance from Scottish Enterprise was sought by the institute in an attempt to stave off liquidation.
§ Mr. StewartI understand that Scottish Enterprise had been aware of the difficulties being experienced by the institute for around six months prior to it going into liquidation; that it was the directors of the institute themselves who decided to call in the liquidator and that Scottish Enterprise played no part in that decision; and that the company had made no official approach to Scottish Enterprise for further financial assistance since it had been made clear to the company that everything possible had been done to help it in its present form.
Scottish Enterprise's involvement with the institute was, however, essentially an operational matter on which Scottish Enterprise itself is best placed to advise. I know that it would be happy to discuss the matter in detail with the hon. Member if he would find that helpful.
§ Mr. WatsonTo ask the Secretary of State for Scotland what was the value of the minority shareholding which Scottish Enterprise took when the Turing Institute became a limited company in 1992; and what active role in the running of the institute was taken by Scottish Enterprise or its representative.
§ Mr. StewartThis is an operational matter for Scottish Enterprise which the hon. Member may be best advised to take up with it direct. However, I understand that Scottish Enterprise's shareholding in the company comprised £100,000 in ordinary shares and £150,000 in preference shares. Scottish Enterprise had a representative on the board of the Turing Institute who, I understand, acted as non-executive chairman.