HC Deb 03 June 1992 vol 208 cc825-6
22. Mr. Vaz

To ask the Secretary of State for Foreign and Commonwealth Affairs if he will make a statement on relations between Britain and Abu Dhabi.

Mr. Douglas Hogg

They are excellent.

Mr. Vaz

The Minister will know that more than 100 right hon. and hon. Members signed a personal appeal to the Sheik of Abu Dhabi asking him to increase the compensation agreement that he put forward to the creditors and depositors of the failed Bank of Credit and Commerce International. The right hon. and learned Gentleman knows also that negotiations are at a critical stage. Does he agree that now is the time for the British Government to become directly involved in securing the best possible deal for the bank's British depositors and former employees?

Mr. Hogg

The hon. Gentleman has discussed that with me on a number of occasions and he will therefore know the position of Her Majesty's Government. Her Majesty's Government have no locus in the matter: it is a matter for the courts, the creditors and the liquidators; consequently, I do not think that it would be right for Her Majesty's Government to press the principal shareholders in any way to increase the contribution that is already on offer. That is a question for the others to whom I have referred.

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