GR 185
CYPHER CAT A
FM HONG KONG 221000Z
CONFIDENTIAL
CONFIDENTIAL
TO ROUTINE F C O TELNO 771 OF 22 JUNE 1978
INFO HONG KONG GOVERNMENT OFFICE LONDON.
PASSENGER/CARGO LIABILITY.
R:
KK 184/1
INDEX
No
20 4UN1978
the ha
Achon Teken
362
CPA HAVE BEEN ADVISED BY AN INSURANCE BROKER SOURCE IN LONDON
THAT FROM 1 APRIL 1978 WHEN THE US GOVERNMENT AMENDED THEIR INTERNATIONAL MONETARY FUND AGREEMENT THEY, IN EFFECT, ABOLISHED THE OFFICIAL PRICE OF GOLD IN THE US. THIS AMENDMENT IS PARTICULARY RELEVANT TO SETTLEMENT OF CLAIMS UNDER THE WARSAW CONVENTION ANDA HAGUE PROTOCOL LIMITS, ALTHOUGH VERY FEW CLAIMS ARE TODAY SETTLED AT AMOUNTS AS LOW AS WARSAW, HAGUE OR MONTREAL AGREEMENT LIMITS,
IN THE US A.
2. IF THE OFFICIAL PRICE OF GOLD IS NO LONGER THE BASIS FOR
SETTLEMENT OF CLAIMS AND THE MARKET PRICE OF GOLD BECOMES THE
YARDSTICK TO BE USED, IT COULD MEAN THAT THE WARSAW LIMITS COULD BE AS HIGH AS US DOLLARS 45,000 AND FOR THE HAGUE PROTOCOL US DOLLARS 90,000. CORRESPONDING INCREASES COULD BE EXPECTED IN
RESPECT OF REGISTERED BAGGAGE AND CARGO LIABILITY CLAIMS.
3. WE WOULD BE GRATEFUL FOR CONFIRMATION WHETHER THE AMERICAN
ACTION IS AS REPORTED AND, IF SO, FOR ADVICE AS TO WHAT ACTION HMG IS LIKELY TO TAKE IN THE LIGHT OF THE AMERICAN AMENDMENT.
MACLEHOSE
FILES
MAED
FRD
COPIES
то
HONG KONG GOVERNMENT OFFICE
LONDON
HKOG D
NAMD
NTD
MRBUTLER
MRTHOMAS
MRMURRAY
CONFIDENTIAL
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