!
17.
Apart from the inherent difficulty of ascertaining
he damage, the principal difficulty in the case of leazen is09 hat in some cases the liquidators have sublet the whole or por- lions of the premises affected, Disclaimer of the lease in such case will involve the extinction of the mutual rig ts and lia- bilities under the sublease, and the position of the subleasen ill have to be considered carefully in the list of decisions nder the Bankruptcy Acts and otherwise.
18.
The exchange contracts with the eutsch Asiatische ank are all overdue and the bank is now unable to carry them out he liquidators generally, including the li-uidators of the ank, bar given to understand that mutual arreements had been made o carry these contracts over until after the war, though in no use has any confirmation in writing of any such arrangement be:n bund, and I think that it will be unnecessary to disclaim any of
iese contracte on either side.
19.
In the case of import contracts, both the suppliersj the dealers appear enerally to have accepted the situation, I think that where no claim has been made it would be a pian Eu to direlaim such contracts. To disclaim them would invito inflated olains which would involve delay, litigation and expense to the estate. In some cases the orders must have reached the
ufacturers after the outbreak of war and wore probably never put in hand, and in others the advance in prices has probably
ade it advantageous to the mup liere to divert the goods elas-F shore. In some cases these contracts have already been cancelled and in others the German firms are protected under the terms of
the contract.
20.
21.
The asme romarks apply to export contracta.
It would appeer, Perefore, unless you disapprove of the position which I have taken up with rard to import and
port contracts, that it is leases which will be chiefly affect- red by the power of disclaimer now to be introduced.
22.