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Britain Claims from Anglo-palestine Bank in Israel $5,000,000 of Former German Assets

The British Government has issued a writ against the Anglo-Palestine Bank claiming $5,020,400 in former German assets, the Tel Aviv correspondent of the Daily Telegraph reported today. The dispatch stated that before the termination of the British Mandate over Palestine, Britain and Australia had agreed that the assets of Germans, to be resettled in Australia, should be handed over by the bank to British agents, who would then transfer them to the Commonwealth Government.

The Anglo-Palestine Bank has refused the transfer because the Israel Government claims the same amount from the bank on the grounds that all former assets of Palestine accrue to Israel as reparations from Germany.