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Garston Amhurst

Volume 167: debated on Monday 12 February 1990

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To ask the Secretary of State for Trade and Industry whether he has any plans to exercise his powers under the Financial Services and Companies Acts to trace funds invested in the Garston Amhurst Associates Group (a) in an account at Barclays bank, Lewisham and (b) overseas.

On 25 January 1990 the Official Receiver was appointed provisional liquidator of five companies in the Garston Amhurst Associates group, following petitions for compulsory winding-up orders to be made against the companies by the Securities and Investments Board. The Official Receiver's inquiries into the assets of the companies are continuing. I am satisfied that the Official Receiver has sufficient powers under the Insolvency Act 1986 to carry out his functions as provisional liquidator.