| Code | NA15 |
| Corporate Name | Continental Assets Realisation Trust |
| Dates | 1939 - 1961 |
| OtherFormsOfName | CART |
| Activity | CART was formed in May 1939 to take over and realise standstill and other frozen European claims owned by banks which took up shares in the company in exchange for debts transferred. The first transfer of such assets arose under a scheme or reorganisation of the London Merchant Bank in which the Bank were preference shareholders as a result of which the Bank through Securities Trust became a 70% shareholder, with Glyn Mills holding the remaining 30%. In 1944 the company took over the administration of the frozen assets of the British Overseas Bank and the Anglo-International Bank much of which was later transferred to CART on their respective liquidations. Under its managing director, Leonard Ingram, CART flourished and developed as an investment as well as a realisation trust. In 1953 a restructuring of CART saw its investments (largely restricted currency awaiting the opportunity for conversion to free currency) transferred to a new company, the Cartlim Trust Ltd. In 1956 it was decided that CART should enter liquidation and to facilitate this, the hard core of its debts were transferred to another company formed for the purpose, General Overseas Investments Limited. The Bank received the final distribution relating the liquidation of CART in 1961. |
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