TNAG-2245-FCO40-3228-Bank-of-Credit-and-Commerce-Hong-Kong-Limited-(BCCHK)-1991 — Page 111

UNCLASSIFIED

FM FCO

TO IMMEDIATE HONG KONG

TELNO 1582

OF 03170OZ SEPT 91

UNCLASSIFIED

42

062122

MDHOAN 9858

Mk3 /02/3

-4.

1991

TOP COPY Q DIST?

LETTER FROM BCC DEPOSITORS' COMMITTEE

1.

A GROUP CALLING THEMSELVES BCC DEPOSITORS'

COMMITTEE''

HAVE WRITTEN TO LORD CAITHNESS COMPLAINING ABOUT THE HANDLING OF THE BCC CRISIS BY THE HONG KONG GOVERNMENT. THE LETTER IS DATED 22 JULY BUT HAS ONLY JUST REACHED US. WE ARE FAXING A COPY TO THE SECRETARY FOR MONETARY AFFAIRS.

2.

PARAGRAPH 2 OF THE LETTER HAS A NUMBER OF FACTUAL ERRORS WHICH WE BELIEVE WE CAN DEAL WITH USING THE REPORT OF THE BANKING COMMISSIONER TO THE GOVERNOR. ON THEIR DEMAND FOR A PUBLIC ENQUIRY, WE WOULD BE GRATEFUL FOR CONFIRMATION THAT THE POSITION REMAINS AS IN YOUR TELNO 2510: IE THAT THERE IS NO INTENTION AT THIS STAGE OF APPOINTING A COMMITTEE OF ENQUIRY BUT THE POSSIBILITY HAS NOT BEEN RULED OUT, SHOULD THE SITUATION CHANGE.

3. IT WOULD ALSO BE HELPFUL TO HAVE AN UPDATE OF HOW THE SEARCH FOR POSSIBLE BUYERS IS PROGRESSING. WE HAVE SEEN FROM PRESS REPORTS TODAY THAT THERE HAVE BEEN SOME DEVELOPMENTS CONCERNING THE HONG KONG CHINESE BANK AND IT WOULD BE USEFUL TO HAVE YOUR ASSESSMENT OF THE CHANCES OF SUCCESS.

HURD

YYYY

MAIN

26

LIMITED

HKD

NEWS D

DISTRIBUTION

27

PS/LORD CAITHNESS MR BURNS

ADDITIONAL

HK GOV OFF LONDON

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