CONFIDENTIAL
2
the company did not support my conclusion on the grounds that today's proposal was material progress and Mr. Tan would be denying the existence of another scheme. I therefore give you the necessary confirmation of my agreement to the references to me in your draft.
I think that this point might be met by leaving your existing draft as it is but adding the substance of. the statement by BMFL. The advisers to BMFL are taking advice on what they would wish to see included, if there is to be a redraft of your letter, to take account of their statement. I am prepared to look at this draft, if you so wish, at your earliest convenience. However, I believe that creditors should be informed as soon as possible as you originally suggested,
You may, of course, show this letter to the companies and their legal advisers.
八九
វ
Yours faithfully,
(Robert Fell) Commissioner for Securities