§ Lord Thomas of Gwydirasked Her Majesty's Government:
What progress is being made in implementing the Foreign Compensation (Union of Soviet Socialist Republics) (Distribution) Order 1987.
§ The Minister of State, Foreign and Commonwealth Office (Lord Brabazon of Tara)My right honourable friend the Secretary of State for Foreign and Commonwealth Affairs has approved interim payments to successful property and bond claimants against the Russian fund of 30 per cent. of the value assigned by the Foreign Compensation Commission to a successful property claim and 20 per cent. of the value assigned by the commission to a bond. The interim payments will be made on or after 15th December 1989. Successful bond claimants received a first interim payment of 10 per cent. of the value assigned to a bond in November 1987.
As of 17th November 1989, all bond claims but one and 2,123 out of 2,635 property claims made against the Russian Fund had been determined by the Foreign Compensation Commission. It is expected that the final distribution from the fund will be announced during the first half of 1990 and that it may exceed 15 per cent. of the value assigned by the commission to a property claim or bond. This would result in a total pay-out from the fund of 45 per cent. of the value assigned to a claim.