TNAG-2245-FCO40-3228-Bank-of-Credit-and-Commerce-Hong-Kong-Limited-(BCCHK)-1991 — Page 107

(5)

CONFIDENTIAL

@

The provision to me by the Government of

Abu Dhabi and/or a commercial bank of a

guarantee in relation to any unrecorded

liabilities of BCCHK and BCCFI in a form

and in substance which is satisfactory to

me.

P. 3

(6)

The enactment of legislation to effect the

transfer of assets and liabilities from

BCCAK and BCCFI to the new banking company.

(7)

No circumstances occurring which, in my

opinion, would render it better in the interests

of creditors to proceed with the liquidation

of BCCHK and/or BCCFI and generally my obtaining

all necessary approvals from the Court in

relation to the implementation of the scheme.

If

It is my belief that this scheme, if it

can be put into effect, will be in the best interests

of all the creditors, including the depositors.

for any reason the scheme cannot proceed, the companies

will be put into liquidation, and in that event it

would be wrong at this stage to attempt any forecast

of when a dividend or dividends could be paid. Fast

experience has shown that with litigation and other

complications a winding-up of a financial institution

of the size and complexity like BCCHK is likely to

take a number of years. >

Azon 200 IRL

ד !