Barlow Clowes Collapse

EDM number 95 in 1989-90, proposed by Alun Michael on 28/11/1989.

That this House notes the considerable time that has elapsed since the Barlow Clowes collapse brought misery and worry for thousands of people, many of whom were elderly individuals who had placed their money in what they believed to be a safe Government-approved investment, and who were shocked to discover its true nature; hopes that early publication of the Ombudsman's report will clearly illuminate the events leading up to the collapse; but notes that apportionment of blame and eventual repayment will come too late for people who should have been able to enjoy security and freedom from worry in their twilight years - some of whom, sadly, have already died - unless the Government now belatedly adopts the pro-active role urged by the Opposition by launching a lifeboat scheme and drawing together all those with a legitimate interest in the compensation of investors to achieve an early payout without further delay or unproductive litigation.

This motion has been signed by a total of 105 MPs.