Skip to main content

Barlow Clowes

Volume 229: debated on Thursday 22 July 1993

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the President of the Board of Trade what action he has taken to date against the third parties implicated in the Barlow Clowes collapse.

I have been asked to reply.Responsibility for Barlow Clowes matters rests with the Treasury under the Transfer of Functions (Financial Services) Order 1992.

The Government continue vigorously to pursue any claims capable of reducing the cost to the taxpayer of the ex gratia payments scheme. Because of a number of outstanding actions, I cannot give details of recoveries made, as doing so might influence their outcome. However, as I said on 16 June, Official Report, columns 613–14, the Government have secured an order for damages against Mr. and Mrs. Clowes in the sum of £31. million.