§ Squadron Leader Cooperasked the Chancellor of the Exchequer whether he will make a statement about the affairs in Spain of the Barcelona Traction, Light and Power Company and its subsidiaries; and, in particular, on the interpretation which has been placed in the proceedings in the Spanish courts on the Agreed Minute signed by Her Majesty's Ambassador in Madrid on 11th June, 1951.
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§ Mr. MaudlingAs regards the second part of the Question, paragraph 3 of the Agreed Minute stated that the British and Canadian representatives in the Madrid discussions had been informed of a statement which had been made by the Spanish Minister of Industry and Commerce and which had referred to "irregularities of all kinds" by this group of companies. In certain legal proceedings in Spain in August, 1951, it was implied that in the paragraph quoted the British representatives had associated themselves with the allegations of such irregularities. There are no grounds whatsoever for such an interpretation of the Minute, and in December, 1951, the attention of the Spanish Government was drawn to the unjustifiable use to which the Minute had been put and the hope was expressed that, if, as seemed possible, the decision of the judge in the case in question had been influenced by the distorted interpretation which had been placed on the Minute, the Spanish Government should take urgent steps to clear up any misapprehension. Since the Spanish Government stated in reply that they did not consider such action necessary, I am glad of this opportunity to make known the position of Her Majesty's Government.
Generally, on the affairs of this group of companies, I would express the hope that a settlement can be reached between the parties concerned which should take account of the legitimate interests of the Barcelona Traction shareholders and of those who have legitimate claims against the company and its subsidiaries.