§ Captain BOWYERasked the President of the Board of Trade what steps have been taken to ascertain the condition of property owned by British nationals and situated in Austria and Hungary respectively, and what amount of reparation will be due in this respect?
§ Mr. BRIDGEMANI would refer my hon. and gallant Friend to the answer given on the 19th February to my hon. Friend the Member for Coventry (Mr. (Manville), in which it was stated that British owners of property in Austria should themselves take steps to ascertain its condition upon restoration to them. It is not possible to estimate the total amount required to compensate British 2411W nationals for damage to their property in Austria. This amount will have to be fixed by the Mixed Arbitral Tribunal.
§ Captain BOWYERasked the President of the Board of Trade whether he can now-state the advice of the Committee set up to consider what steps can be taken to make Austrian assets in this country available to meet the claims of British nationals; and how much of the sum of £17,693,807 registered with the Public Trustee will be available and required to meet such claims and to meet claims for reparation in regard to British property held by Austria and Hungary?
§ Mr. BRIDGEMANThe Committee has advised that an Administrator, to be assisted by an Advisory Committee, should be appointed, and that he should be given full powers to ascertain and verify as far as possible the claims of British nationals against Austria, and to collect and realise for purposes of distribution all the avail able Austrian property which has been vested or is capable of being vested in the Custodian, and that the proceeds of the liquidation of such property should be placed at the disposal of the Administrator for that purpose. That the necessary arrangements should be made for the Administrator to obtain the assistance of the Austrian Government for the purpose of verifying the claims of British nationals in Austria. The Committee have also advised that British debtors should be required to pay to the Administrator the amount of their debts (with the addition of interest at 5 per cent. per annum, except in cases where a different rate of interest is provided for by contract law or custom), and that British creditors, after satisfying the Administrator that they have made all reasonable efforts to obtain payment from their Austrian debtors, should be entitled to prove in accordance with the practice in bankruptcy for the unpaid balances of their debts. I am dealing with the inquiry as to the sum of £17,693,807 in the answer to the further question of my hon. and gallant Friend.