§ Mr. McNamaraTo ask the Parliamentary Secretary, Lord Chancellor's Department, pursuant to the answer from the Secretary of State for Transport to the hon. Member for Blackpool, South (Mr. Hawkins) of 27 November 1996,Official Report, columns 271–72, what legal action the Official Solicitor plans to take in respect of his duty as trustee of the BEST pension fund; and when he plans to take it. [20505]
§ Mr. StreeterNBC Pension Trustees Ltd. is trustee of the BEST pension fund of which the Official Solicitor is sole shareholder. The Official Solicitor has appointed two of his staff as directors. I am informed that the trustee, NBC Pension Trustees Ltd., intends to issue proceedings seeking recovery of the pension funds paid to the Secretary of State for Transport. Allen and Overy, who have advised the former directors for several years, were instructed by the present directors when they assumed responsibility. Allen and Overy have now relinquished their retainer as there is a potential conflict of interest. The trustee has recently instructed Taylor Joynson Garret in order to carry forward the matter as quickly as possible.