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Upper Clyde Shipbuilders Ltd

Volume 901: debated on Thursday 20 March 1975

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asked the Secretary of State for Industry what action he intends to take as a result of the report by Professor David Flint on Upper Clyde Shipbuilders; and if he will make a statement.

I have been advised that in the matter of the liquidation of Upper Clyde Shipbuilders Limited there are no grounds on which a legal case against the Government could be sustained under Section 332 of the Companies Act 1948; neither do I accept that the creditors of the Upper Clyde Shipbuilders Limited have any moral claim against the Government. In arriving at this conclusion very full and careful consideration has been given to the report prepared by Professor David Flint on behalf of the Creditors' Committee of Inspection and to other arguments advanced by the liquidator on behalf of the creditors.