TNAG-2245-FCO40-3228-Bank-of-Credit-and-Commerce-Hong-Kong-Limited-(BCCHK)-1991 — Page 42

CONFIDENTIAL

FM HONG KONG

TO IMMEDIATE F C O

TELNO 2936

CONFIDENTIAL

WAB cool3

la

N

A

135007

MDHIAN 3489

джени

OF 19053OZ SEPTEMBER 91

первдий

18 Chis.

YOUR TELNO GUIDANCE 25: BCCHK: EGYPTIAN CONSULATE GENERAL

то чора

1. WE HAVE RECENTLY RECEIVED REQUESTS FROM THE EGYPTIAN

CONSULATE GENERAL TO RELEASE THE DEPOSITS BELONGING TO THE MISSION AND ITS STAFF IN BCCHK. THESE DEPOSITS AND THOSE OF ALL OTHER DEPOSITORS HAVE BEEN FROZEN PENDING THE RESULT OF THE ACTIONS BEING TAKEN BY THE PROVISIONAL LIQUIDATOR. OUR LEGAL ADVISE IS THAT THE MISSION HAS NO ENTITLEMENT TO ANY PREFERENCE IN THESE CIRCUMSTANCES.

2.

WE PROPOSE TO REPLY TO THE EGYPTIANS IN ACCORDANCE WITH PARA

8 OF TUR I.E. THAT NEITHER INTERNATIONAL LAW ON STATE IMMUNITY NOR THE VIENNA CONVENTION ON DIPLOMATIC RELATIONS REQUIRES SUCH ACCOUNTS TO BE GIVEN SPECIAL TREATMENT IN A LIQUIDATION, AND THAT IN THE CIRCUMSTANCES, THE HK GOVERNMENT HAS NO POWER TO CAUSE THE FUNDS TO BE RELEASED.

3. PLEASE CONFIRM THAT THIS IS CONSISTENT WITH YOUR APPROACH TO SIMILAR PROBLEMS.

WILSON

YYYY

ΜΑΙΝ

119

BCCI (BANK OF CREDIT &)

(COMMERCE INTERNATIONAL)

MED

PUSD

ERD

SAD

NAD

NENAD

DISTRIBUTION

127

HKD

PS

PAGE

PS/MR HOGG

PS/MRS CHALKER

PS/MR GAREL-JONES

PS/MR LENNOX-BOYD

PS/PUS

MR FAIRWEATHER

1

CONFIDENTIAL