41st Meeting

On page 4, you will find a letter from Midland Bank Limited, which asks for certain matters to be raised during the committee’s 41st meeting. The firs issue was in relation to what should be done about ‘washing’ a current account.

The second matter was related to the diminution of the current/future value of a fixed charge. The letter prompts for creating safeguards the diminution of such value as a result of a deferment of realisation.

42nd Meeting

The government’s proposals on the OR’s role in Bankruptcy

The committee expressed that the government’s officials did not want a conflict with the committee and hoped that some alternative proposal be acceptable. Yet if the government went ahead with its plans, the implementation of the government’s plans would delay the implementation of the committee’s proposals. The final report should be published before the government implemented its proposals, and that the publication should be accelerated through political pressure.

Future work

The committee should only focus on points of principle in its discussions. Any other technical points should be dealt with in writing.

On pages 9 and 10, you will find the agenda of the 43rd Meeting, and a letter headed ‘the Bankruptcy and Companies Office’ respectively. The letter feeds back into the preliminary papers of the Committee’s main meeting on 21 May 1980.

Meeting41 - 21 May 1980