Maxwell Communication Corporation Pensioners

EDM number 501 in 1991-92, proposed by Tony Lloyd on 17/01/1992.

That this House calls upon the administrators of Maxwell Communication Corporation ("the Corporation") and any administrative receivers or liquidators of the Corporation who may be appointed in the future to ensure that at all times the interests of the present members, of the pensioners and the deferred pensioners of the Corporation's pension funds are given precedence over the generality of the creditors of the Corporation in any recovery or distribution of assets, on the grounds that the members and pensioners and deferred pensioners of the Corporation's pension funds are the innocent victims of the unauthorised transfer of pension fund assets, which assets comprised monies paid into the funds as members' contributions and over which the members had no control, unlike the generality of creditors of the Corporation who willingly entered into business dealings with the Corporation and therefore knowingly and willingly incurred the risks implied in so doing.

This motion has been signed by a total of 55 MPs.