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.
  

