Vol. 395 No. 8
36 Mr. O'Shea asked the Minister for Industry and Commerce if he will give an up-to-date report regarding the matters arising from his withdrawal of export credit insurance from certain exports to Iraq; whether the exporters concerned have been recouped by the Iraqi authorities in respect of the exports concerned to date; and if he will make a statement on the matter.
As far as my Department's responsibilities in the matter are concerned, there have been no major developments since my decision to void certain export credit insurance policies in respect of beef exports to Iraq in connection with which I last answered questions in the House on 1 November 1989. As Deputies are already aware, legal proceedings have been instituted against me by one of the companies concerned. These have not been progressed to date. As I stated in the House on 1 November last, if these legal proceedings are persisted in I propose to contest them vigorously.
I understand that the exporters concerned have obtained payments totalling £8.0 million approximately from Iraq in recent months in respect of shipments under the policies that were voided.
