Styleventure Development Company

EDM number 487 in 2003-04, proposed by Peter Kilfoyle on 26/01/2004.

That this House notes that the Styleventure development company of Liverpool has gone into administrative receivership on the intervention of its biggest creditor, the Hanley Economical Building Society; further notes that those people who have paid deposits on houses off Hornby Road, Liverpool, are likely to lose those deposits and their intended houses; urges that the Hanley Economical Building Society, which had failed to monitor Styleventure efficiently, shows the same duty of care to those depositors in Liverpool as it did to its balance sheet; and calls for a Department of Trade and Industry inquiry into the way in which depositors were induced to part with their money to a technically insolvent company.

This motion has been signed by a total of 22 MPs.