| Description | Following 1926 success of action by Rothschilds v Egyptian Government claiming payment of Preference, Unified and Guaranteed Loans in gold, Egyptian Public Debt Commission in Cairo also sue in like manner, 1931, after United Kingdom (UK) withdrawal from gold standard; Mixed Court of Appeal in Egypt claims no jurisdiction to try these cases, but state payment in paper will suffice for future; UK bondholders and Rothschilds agree not to sue, and eventually Anglo-Egyptian agreement signed 17 July 1940 for winding up of Public Debt Commission (originally appointed by Decree 2 May 1876 for life of Loan Debts); public debt service taken over by National Bank of Egypt, May 1941. |