HC Deb 06 December 1948 vol 459 cc7-8
9. Mr. William Teeling

asked the Secretary of State for Foreign Affairs what has been the result of the British Ambassador's representations to the Argentine Government concerning compensation to be paid to the British shareholders of the Buenos Aires Transport Corporation; and what is the present position concerning the assets of that corporation owned by British capital.

Mr. Mayhew

No reply has yet been received to the representations which have been made to the Argentine Government concerning the liquidation of the Buenos Aires Transport Corporation. The terms on which the liquidation is to be put into effect have not yet been fully disclosed.

Mr. Teeling

Can the hon. Gentleman say how long it is since the Ambassador made this application?

Mr. Mayhew

I cannot say the exact date. Our Embassy has been asked to telegraph as soon as new information is available.

Sir Patrick Hannon

Does the Under-Secretary realise that in this case serious losses will probably be sustained by shareholders in this Corporation in this country, and what effort has been made by the Government to ensure fair play for them in a final settlement?

Mr. Mayhew

We shall certainly try to get fair play.