Western Counties Shipping Company.

Oral Answers to Questions — Transport. – in the House of Commons on 6th April 1922.

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Photo of Sir Percy Hurd Sir Percy Hurd , Frome

69.

asked the President of the Board of Trade if his attention has been called to the loss of 2¼ millions sterling of the capital of the Western Counties Shipping Company and to the fact that no accounts have been received and no shareholders' meeting has been held; whether he proposes to take steps to enforce the law as to the holding of a meeting and the submission of accounts; and, if not, what other measures he pro poses to take?

Photo of Sir William Mitchell-Thomson Sir William Mitchell-Thomson , Glasgow Maryhill

The answer to the first part of this question is in the affirmative. I am advised that an application to the Court to direct the holding of a general meeting of the company must be made by a shareholder and not by the Board of Trade. In the event of a winding-up order being made by the Court on the petition of a creditor or a shareholder, a full investigation of the company's affairs would be conducted by the Official Receiver.