16
Jad/2900 (F.1)
26 October, 1951.
B
Dear Leonard,
With reference to your letter dated 27th August, 1951, reference DM 298/62/02, authorizing the write-off of the sum of £18,727 19s. 5d. in respect of Hong Kong $299,647.54, of which a part was in respect of advances made to Messrs. Bailey & Co., Ltd., who went into voluntary liquidation on 12th August, 1949, on the assumption that no assets of the Company existed from which a recovery (partial or complete) of the debt could have been made, I enclose a copy of Hong Kong's Savingram No. 1080 dated 26th September, 1951, in reply to our enquiry on this part of the matter.
You will observe that assets are in fact available against which our claim could be met at least in part, but that the matter of claims and counter-claims was finalised by a negotiated settlement between the Company and the Government acting on behalf of H.M.G. It seems therefore that it would be difficult for us to re-open the matter at this juncture, and, if we did we should almost certainly be confronted with a counter-claim. I think that in these circumstances you will agree that we should let the matter drop.
I am sending a copy of this letter to Mrs. Petherick.
Yours sincerely,
OHwaplof
A. Leonard, Esq.,
The Treasury,
Treasury Chambers,
Great George Street,
LONDON, S.W.1.