HC Deb 29 June 1933 vol 279 c1651

asked the Chancellor of the Exchequer whether, in view of the decision of the German authorities to default upon their liability to pay interest and sinking fund on the next due date in sterling to British subscribers to the Hamburg Waterworks 6 per cent. Loan, he will, on behalf of British subjects, consider taking steps in the German courts of justice to obtain possession by foreclosure of the assets pledged to the service of the loan in accordance with the terms of the issue in London?

31. Mr. POTTER

asked the Chancellor of the Exchequer whether he will notify the German authorities that the proposal to postpone interest and or sinking fund on the Hamburg Waterworks 6 per cent. Sterling Loan floated in London in 1928 will render it necessary for His Majesty's Government to refer the matter to the test of the German courts of law with a view to foreclosure, by British holders of the securities issued in London, on the assets of the concern covered by the guarantee and lease of 18th March, 1924, as part of the security pledged to the bondholders?


I do not think that any intervention in this matter on the part of His Majesty's Government is desirable at the present time.