HC Deb 08 August 1916 vol 85 cc874-5
94. Sir E. CORNWALL

asked the Attorney-General whether he is aware that on the demand of the Public Trustee and his legal advisers the Court has decided that a British creditor of an enemy debtor whose debt was owing at the commencement of the War and was payable in marks should now only receive the present depreciated value of exchange of marks into sterling instead of the rate of exchange prevailing on the date when the debt ought to have been paid, and that such decision involves a considerable loss to British creditors to the advantage of enemy debtors; and whether he proposes to take any action in the matter?

The SOLICITOR-GENERAL (Sir G. Cave)

I am informed that no decision has been given by the Court. but that in one case the Court has decided that a British debtor of an enemy creditor is only liable to pay to the Public Trustee the amount of his debt at the lowest current rate of exchange through neutral countries. No action on the part of the Government appears to be required.