Conduct Of Banks And Investigative Accountants

EDM number 687 in 1993-94, proposed by Alex Carlile on 25/02/1994.

That this House congratulates the Bank Action Group and its national co-ordinator Patricia Griffiths on their attempts to persuade the National Westminster Bank plc to review its actions whereby the company Craobh Haven 2000 Ltd was placed in receivership; regrets the refusal of the bank to negotiate arrangements which might have enabled the company to continue trading; considers that further examination is needed of the system whereby banks are permitted to appoint investigative accountants at the clients' cost and often at very high fees negotiated only between bank and accountant; and urges the Government to introduce a code of practice whereby investigative accountants may not be appointed as receivers unless it can be demonstrated clearly that no conflict of interest exists.

This motion has been signed by a total of 24 MPs.