UK Parliament / Open data

Dormant Bank and Building Society Accounts Bill [Lords]

The right hon. Member for Leicester, East (Keith Vaz) raised an important issue. Is the Minister saying, in effect, that the liquidator would be able to choose whether the remaining assets, in this case in BCCI, would be available for transfer to the reclaim fund? The liquidator's duty to maximise the amount available for creditors would seem to suggest that doing so would be wrong and that any moneys remaining in dormant accounts should stay within BCCI and form part of a dividend to be distributed to creditors.

About this proceeding contribution

Reference

482 c36 

Session

2007-08

Chamber / Committee

House of Commons chamber
Back to top