TIN PACT EXTENSION LIKELY - ITC DELEGATES
An extension of the sixth International
Tin Agreement, ITA, for one or two years beyond June 30 is
increasingly likely, International Tin Council, ITC, delegates
said following a special council session today.
    A formal decision will be taken at the quarterly council
session on April 8-9 when decisions are needed on the budget
and activities for the year beginning July one, they stated.
    Delegates said most countries now favour a continued legal
ITC presence to answer the still unresolved legal disputes over
the outstanding debts of its buffer stock with court hearings
likely to continue well after the June 30 expiry of the pact.
    The ITC was informally told of the appeal made yesterday by
Amalgamated Metal Trading Ltd, AMT, against the January court
ruling against it in the legal bid it led on behalf of ITC
creditor brokers to have the ITC wound up.
    In January the judge ruled that the U.K. Court had no
jurisdiction to wind up the tin council, the ITC was not an
association within the meaning of the U.K. Companies act, and
the winding-up petition was not a proceeding in respect in
respect of an arbitration award.
    AMT is appealing on all points and has said it is important
for the court to accept that a winding-up petition is a move to
enforce an arbitration ruling.
 Reuter
