Northern (N): Hungary (NH). UK Foreign Compensation (Hungary) Order 1958

A file of correspondence and legal material on Hungarian compensation payments. The file discusses the wording of a statutory instrument for dividing the sum of £4.05 million, which the Hungarian government had agreed to pay in 1954, between British claimants for property nationalised or otherwise lost after the Second World War. The file contains two drafts of the Foreign Compensation (Hungary) Order, which established the categories of claimants included in the payments, and the process for filing claims. The file also notes that the payments so far received from the Hungarian government were in such small increments that the money was not yet worth distributing to claimants; that a separate fund of £450,000 was to be established to compensate short-term creditors and holders of Hungarian Treasury bills; and that deposits in the former Hungarian currency were worthless, as it had been replaced in 1946 at 400,000,000,000,000,000,000,000,000,000 peng? to one forint.