Conduct Of The Liquidation Of Bcci (No.2)

EDM number 1305 in 1992-93, proposed by Keith Vaz on 02/02/1993.

That this House notes the Press release issued by Mr Christopher Morris of Touche Ross in response to Early Day Motion 1284, is appalled that Mr Morris who himself has been criticised by the Economic Secretary to the Treasury in a letter dated 19th November 1992, has sought to mislead the Press by stating that creditors do not want a formal elected creditors committee; notes that the demand for a general creditors meeting and an elected committee has been a cardinal principle of the BCCI campaign which Mr Morris and Touche Ross have resisted for the last 18 months including breaking an undertaking Mr Morris gave to the President of the Board of Trade to hold such a meeting within three months of 14th January 1992; considers it regrettable that Mr Morris has failed to justify his firm's astonishing and exorbitant fees; is amazed that he regards the creditors on the current informal committee as 'unrepresentative' as they were appointed by Mr Morris with the approval of the High Court; and hopes that Mr Morris's new-found interest in creditors' democracy will enable creditors to decide for themselves on 27th May, if Mr Morris should remain as a liquidator.

This motion has been signed by a total of 67 MPs.