§ 8. Mr. Teelingasked the Secretary of State for Foreign Affairs what is the present position of the British shareholders and debenture holders of the Egyptian Delta Light Railways; whether they are being looked after in the general settlement of claims and counter-claims; and what has happened to the two lawsuits brought in 1954 on behalf of the company's debenture holders.
§ Mr. Ian HarveyMy hon. Friend will recall the reply which was given to his Question on this subject on 1st August, 1956, when the court cases to which he referred weresub judice.
By Proclamation No. 5 of 1st November, 1956, the Egyptian Government prevented British subjects from pursuing or instituting legal proceedings. One of the objectives of the United Kingdom Delegation to the Anglo-Egyptian financial talks at present in progress in Rome is the removal of all Egyptian restrictive legislation against British subjects and property, including this Proclamation. The debenture holders would thereafter have the opportunity of deciding whether to resume litigation.