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Brazil (British Interests)

Volume 466: debated on Monday 27 June 1949

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asked the Secretary of State for Foreign Affairs whether he will make a further statement concerning the payment of compensation to an expropriated British utility company in Brazil, the Ceara Tramway, Light and Power Company.

Yes. This is one of the questions which has been discussed recently during the official visit to this country of Dr. Machado, who has given a written assurance that the settlement of these and certain other claims will be accelerated. The following is the relevant extract from the letter received from Dr. Machado:

"I am authorised to inform you that the Federal Government will ask the Governments of the States concerned to recommend, or themselves will recommend, as the case may be, the acceleration of the study for a solution, in the shortest possible period, of the questions relating to the interest of the British-owned utility companies in the Northern States of Amazones, Ceara and Para, and in respect to the claims of the Sao Paulo Railway Company, Ltd., it being understood that their action in this respect involves no commitment as to the eventual decision on these questions."
My right hon. Friend is hopeful that, as a result of this assurance, a settlement satisfactory to the British interests involved will be reached in the near future.