HC Deb 06 July 1933 vol 280 cc492-3
26. Mr. BURNETT

asked the Chancellor of the Exchequer whether he is aware that Brazil proposes to liquidate her default on Foreign commercial milreis credits by offering creditors her six-year bonds; and whether he will make representations that grievances regarding the Leopoldina Railway and Contareira and other companies operating in Brazil should be remedied before further Brazilian securities are offered to the public?

The FINANCIAL SECRETARY to the TREASURY (Mr. Hore-Belisha)

I understand that the offer which is being made both to commercial creditors and to British companies operating in Brazil is intended to afford a means of liquidating in sterling the amounts due to the creditors over a term of years, and that there is at present no question of further Brazilian securities being offered to the public.

Mr. BURNETT

Will the hon. Member make representations through the British representative in Brazil, so as to get reports of these undertakings?

Mr. HORE-BELISHA

If the hon. Member will write to me as to exactly what he has in mind, I will with pleasure do what I can for him.

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