CO537-(1262-1649) — Page 230

000 15

1

2

cms

Ref.:

THE NATIONAL ARCHIVES

CO 537/1374

restrictions. Further information is given in the enclosed 'Terms and Conditions of supply of National Archives' leaflet.

Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright

-

2

cms

Ref.:

CO 537/1374

1

2

THE NATIONAL ARCHIVES

and the proceeds of the sale on shares which he

realised at a grossly inflated price. It is stated

that Mr. Dastur paid off his overdraft qui te

voluntarily to the Japanese Liquidator.

Our answer

to that, as already given by Mr. Caine, is that

Mr. Dastur did, in fact, have to release his shares. Secondly, Mr. Dastur's payments would eventually

fall under those to be revalued, and not very much

value is likely to be given to them in view of the

depreciation of the Yen.

Enclosure G, giving the decision of the Manila

Court First Instance a case brought by the

Hong Kong Bank, has also been sent to us by

Mr. Morse. It has been examined elsewhere by our

Legal Advisers, who do not consider that the

arguments provide any reason for not proceeding

with Debtor-Creditor Legislation, on the lines

under consideration.

15

Enclosure H is new, being a further memorandum by the Hong Kong Bank's Legal Adviser (Mr. J.R. Jones)

written in the light of the draft Ordinance which

was shown to Mr. Morse by the Hong Kong Government.

I have sent a copy separately to Legal Advisers.

/They

I

J

2

Ins

Page 230Page 231