SUIT FOR £6,000,000
BELGIAN INDUSTRIALISTS’
LOSSES
A suit involving a possible loss to the Belgian Treasury of £6.000.000 is pending before the Brussels court. The plaintiffs are a group of industrialists who. several years ago. contracted loans in foreign currencies at the invitation of the Government, which was anxious to avoid adverse speculation in the franc. The industrialists bought dollars and pounds when the pound was valued at 50 francs.
When the time came for payment of the borrowed pounds they were valued at 175 francs. Some of the plaintiffs paid the difference, but others refused. The State *ued the recalcitrants and lost the case. Immediately those bankers who had paid the full amount brought suit against the Treasury, asking for refunds.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19300531.2.183
Bibliographic details
Sun (Auckland), Volume IV, Issue 986, 31 May 1930, Page 15
Word Count
122SUIT FOR £6,000,000 Sun (Auckland), Volume IV, Issue 986, 31 May 1930, Page 15
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