Vol. 418 No. 8
15 Mr. J. Higgins asked the Minister for Industry and Commerce the amount of export credit insurance granted to different meat companies in 1988; if he will outline the companies to which such insurance cover was granted and the amounts involved.
Insurance policies were issued to two companies in 1988 in respect of beef exports to Iraq; these two policies were subsequently declared void in October 1989. The maximum potential liability on the policies was £100 million. These matters are now the subject of legal proceedings.
In these circumstances, and because they are also being inquired into by the Tribunal of Inquiry into the Beef Industry, I do not propose to comment further on the matters in question.
