Delay In Compensation Payments To Bcci Creditors And Former Staff

EDM number 1545 in 1994-95, proposed by Keith Vaz on 31/10/1995.

That this House notes that it is almost four and a half years since the closure of BCCI; is deeply concerned by the failure of the liquidators Touche Ross to distribute any money to the creditors and former staff of BCCI; acknowledges that when Barings closed the Bank of England used its good offic es to ensure that there were no losses to creditors or staff; and calls on the President of the Board of Trade and Secretary of State for Trade and Industry to seek an urgent meeting with Christopher Morris, the senior liquidator, to ensure that all outstanding matters are resolved before 3rd November in Luxembourg so that the victims of BCCI, the creditors and former staff receive compensation forthwith.

This motion has been signed by a total of 36 MPs.