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Nation Life Insurance Co Ltd

Volume 890: debated on Monday 21 April 1975

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asked the Secretary of State for Trade what is his latest estimate of the net liabilities of Nation Life.

The statement of affairs required under Section 235 of the Companies Act 1948 contains an estimate of the liabilities which shows them, in total, to exceed £25 million. Agreement of the liabilities and the admission or rejection of the resultant claims are primarily matters for the liquidator appointed by the court. He is seeking the directions of the court on the bases to be used in making the necessary calculations.