asked the Minister for Industry and Commerce whether there has been any threat of litigation in the last two years in domestic or European courts arising out of the allocation of export credit guarantees; and, if so, if he will give details.
Written Answers. - Export Credit Guarantees.
176.
I am not aware of any threats of litigation either in domestic or European courts in the last two years arising out of the allocation of export credit guarantees.
177.
asked the Minister for Industry and Commerce the amount of the £500 million limit authorised for export credit guarantees which has been utilised; and by whom.
The Insurance Acts, 1909-1988 provide that the Minister for Industry and Commerce may assume liabilities up to a maximum of £500 million at any one time in respect of export guarantees. The export credit insurance and finance schemes are administered by the Insurance Corporation of Ireland plc (ICI) as agent of the Minister for Industry and Commerce.
At the end of March 1989, the actual total liability under the export credit insurance and finance schemes was approximately £300 million.
Some 450 companies are currently covered by the schemes involving exports to 20,000 buyers in over 130 countries.
As has been standard practice since the inception of the scheme, it would be inappropriate for me to give detailed information on a company basis. This is confidential commercial information and its disclosure could be harmful to the interests of the companies involved, many of whom are in direct competition.