:-
HWB 21/5
CONFIDENTIAL
Matthew Parker Street,
9 September, 1968.
154
I refer to your letter SL/CW 24126/35 of 31 July, 1968
addressed to Lucas about the Hong Kong Tunnel, to which I am
replying in Carter's absence.
The legal advice we have received (I attach the opinion
of one of our legal advisers) indicates quite clearly that, in
the absence of a Hong Kong Government guarantee for the whole
loan, we cannot give you the undertaking you seek. Even were
the Hong Kong Government to give such a guarantee we would find
it difficult to give you "an unsubordinated right of access"
over all other claims on the Hong Kong Government assets.
LAST
125
REF.
RÉXI
RCF.
(R. H. MASON)
K. W. Cotterill, Esq.,
Export Credits Guarantee Department, 59-67, Gresham Street,
E.C.2.
CONFIDENTIAL