asked the Secretary of State for Wales what was the security to which he referred in his Written Answer of 25th March 1976 to the hon. Member for Croydon, North-West against which he made a loan of £300,000 to the Penrad Group Ltd.
The loan of £300,000 to Penrad Group Limited was made by my right hon. Friend the Secretary of State for Industry. Security for the loan comprised charges on Penrad Group Limited which ranked after prior charges held by the bank. The estimated final realisations from the receivership will be insufficient to result in the recovery of the loan.