XN000022-1992-07-16 — Page 12

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THURSDAY, JULY 16, 1992

GOVERNOR KEEN TO HAVE CONSTRUCTIVE RELATIONSHIP WITH OMELCO

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THE GOVERNOR, THE RT HON

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CHRISTOPHER PATTEN, SAID TONIGHT

(THURSDAY} THAT HE WAS VERY KEEN TO HAVE A CONSTRUCTIVE WITH THE EXECUTIVE COUNCIL AND THE LEGISLATIVE COUNCIL.

RELATIONSHIP

SPEAKING TO REPORTERS AFTER ATTENDING A DINNER GIVEN BY MEMBERS OF THE TWO COUNCILS, MR PATTEN SAID HE WOULD BE DISCUSSING WITH THE EXECUTIVE COUNCIL WAYS IN WHICH HE COULD BE MORE ACCOUNTABLE

то THE LEGISLATIVE COUNCIL.

"AND I'LL BE PUTTING PROPOSALS TO LEGCO IN THE AUTUMN WHEN THEY COME BACK TO WORK," HE SAID.

IN REPLY TO A QUESTION ON THE MEETING OF THE AIRPORT COMMITTEE, MR PATTEN SAID: "I'M SURE THE AIRPORT COMMITTEE WILL WORK VERY CONSTRUCTIVELY OVER THE COMING DAYS AND WEEKS TO PROVIDE ANSWERS TO THE PROBLEMS THAT HAVE ARISEN.

IN THE

"IT'S IN ALL OUR INTEREST AND THE INTEREST OF HONG KONG, INTEREST OF SOUTHERN CHINA TO HAVE AN EARLY RESOLUTION ΤΟ THESE PROBLEMS.

LAND WITH THE

"WE'LL HAVE A GREAT AIRPORT; WE'LL HAVE A LOT MORE RECLAMATION; WE'LL HAVE ALL THE OTHER PROJECTS ASSOCIATED AIRPORT IN DUE COURSE. OF THAT, I'M ABSOLUTELY CONFIDENT."

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FS WELCOMES PROPOSED SCHEME FOR BCCHK DEPOSITORS

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THE FINANCIAL SECRETARY, MR HAMISH MACLEOD, TODAY [THURSDAY} WELCOMED THE PROPOSED SCHEME OF ARRANGEMENT ANNOUNCED BY THE OFFICIAL RECEIVER WHEREBY SMALL DEPOSITORS OF BCCHK MAY RECEIVE PAYMENT IN FULL IN LESS THAN THREE MONTHS' TIME.

"THIS IS VERY GOOD NEWS FOR SMALL DEPOSITORS. IT MUST BR EXTREMELY RARE IN ANY BANK LIQUIDATION FOR SMALL DEPOSITORS TO BE REPAID IN FULL AND SO QUICKLY," HE SAID.

"I AM PARTICULARLY PLEASED THAT BOTH THE SMALL AND LARGE CREDITORS WILL BENEFIT FROM THE PROPOSED SCHEME.

ADVERSELY REPRESENT AND THE

"FULL PAYMENT TO SMALL CREDITORS WILL PROBABLY NOT AFFECT THE LARGE CREDITORS, AS THE SMALL CREDITORS' CLAIMS LESS THAN 3 PER CENT OF THE TOTAL VALUE OF RECORDED CLAIMS. LARGE CREDITORS WILL BENEFIT BECAUSE THE PROPOSED SCHEME WILL SPEED UP THE SETTLEMENT OF THEIR CLAIMS AND REDUCE ADMINISTRATIVE COSTS," HE SAID.

"I VERY MUCH HOPE THAT THE PROPOSED SCHEME WILL SUCCEED, AND BE AGREED BY THE LARGE CREDITORS, MR MACLEOD SAID.

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