Letter from A. Michalakopoulos to P. Loraine about the expropriation of properties owned by English citizens.

172/52 COPY. Athens, February 17th 1927. N°2172. Monsieur le Ministre, With reference to the correspondence which has been exchanged between us on the subject of the re-purchase by the Hellenic Government of properties belonging to British subjects and expropriated or expropriable under the Hellenic Rural Law dated October 15th 1926, codifying rural laws from N°2052 dated February 27th 1920 onwards, or requisitioned or occupied, I have the honour to declare to Your Excellency that the Hellenic Government undertakes to repurchase the properties in question and to effect payment for them in cash throughout a period not exceeding three years from April 1st. 1927, in accordance with the method of valuation and under the conditions set forth below, or alternatively to restore to the owner of any such property not so purchased the same measure of full and effective ownership and of exclusive possession which he enjoyed before the property was requisitioned or expropriated by the Greek Government, or occupied, and free from any restrictions which might reduce its fair marketable value, or negotiability. The conditions and methods of valuation to which I have referred are as follows:- (1) The Hellenic Government undertakes to repurchase the properties at prices to be fixed by free negotiation between the Government and the interested parties. (2) In case of disagreement, the Hellenic Government shall enjoy the following right of option between:- His Excellency, Sir Percy Loraine, Bart, K.C.M.G. Envoy Extraordinary and Minister Plenipotentiary, ATHENS.