CONFIDENTIAL
2
COMPANY CONTINUED TO OPERATE IN HONG KONG. IF OPERATION CEASED BY
REASON OF COMPLETE FORLIGN TAKEOVER IT WOULD NO LONGER BE POSSIBLE
TO DO SO'. THIS REPLY APPEARS EVASIVE FOR, WHATEVER MIGHT BE THE
POSITION OF OTHER SHAREHOLDERS, HONG KONG AND SHANGHAI BANK WOULD
CONTINUE TO EXIST AND BE LIABLE UNDER ITS GUARANTEE. IT SEEMS
PROBABLE THAT THE SHAREHOLDERS, IN PARTICULAR THE BANK. WOULD NOT BE
PREPARED TO PROVIDE INDIVIDUAL GUARANTEES ON THIS BASIS.
SIR D. TRENCH
FILES:
HONG KONG DEPT
FAR EASTERN DEPT
I.P.D.
F.P. & A.D.
TRADE POLICY DEPT
EXPORT PROMOTION DEPT
MR. MORETON
MR. COMBS
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CONFIDENTIAL
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