We have been causdeng
with Rekan + their advisers.
Gepare
Lazards, who advise Metro Cam, have suggested that this could
be provided either:-
To be desuused further with
Bork. How
covert is if corded they do it.
a.
читат
:-72 fullter
I prav
setting up some Hong Kong company apparently to
borrow money under buyer credit terms to pay for the
train sets in the knowledge that in fact the money
retum
would be on lent at a rate of exchange which would rate of exchange which would
of
permit transfers on an adequate scale to Metro Cam.
Departments' reaction is that this is probably ultra
vires in addition to setting a bad precedent and being
too obvious.+ we don't cuusder further
b.
creating a forward market in Hong Kong dollars
assuming that the dollar will appreciate against the
£ by more than it actually will, thus paying to Metro
Cam more £s for the Hong Kong dollars they will eventually
receive than they would normally expect. This would only
be possible if the Bank of England dealt and held reserves
in Hong Kong dollars. They do neither thing.