GENERAL HEADQUARTERS SUPPEME COMMANDER FOR THE ALLIED POWER AFO 500

5 January 1951

AG 602 95 Jan 51) CPC/CD
SCAPIN 2135
MEMORANDUM FOR : JAPANESE GOVERNMENT
SUBJECT: Liquidation of Korean Railway employees Mutual Aid Association
1. Reference is made to the following memoranda for the Japanese Government from General Headquarters, Supreme Comander for the Allied Powers:
a. File AG 010 (1 Jan 50) ESS/FTC, SCAPIN 2070, 1 January 1950 ,subject, "Foreign Exchange and Foreign Trade Control"
b. File AG 602(17 Nov 48) CFC/FP, SCAPIN 1965, 18 January 1949, subject,"Liquidation of Property in Japan of ▣r▣▣cnes of Companies with Head Offices Outside Japan. "
c. File AG 602 (17 Nov 48) CFC/FP, SCAPIN1955/1, 8 March 1949, subject,"Property In Japan of Companies with Head Offices Abroad"
d. File AG 602(17 Nov 49) CPC/FP, SCAPIN 1965/2,1 June 1949, subject,"Dissosision of Property in Japan of Companies or Persons with Head Offices in Areas Formerly occupied by the Japanese. "
e. File AG 602 (17 Nov 48) CFC/FP, SCAPIN 1965/3, 2 August 1949, subject, "Property in Japan of Companies with Head Offices in Areas Formerly Occupied by Japan."
f. File AG 602 (17 Nov 48) CPC/FP, SCAPIN 1965/4, 8 June 1950, subject, "Disposion of Property in Japan of Companies or Persons with Head Offices in Areas Formerly Occupied by the Japanese. "
2. Notwithstanding the terms of reference is above, the Japanese Government is directed to effect and be fully reasonsible for the liquidation of all property in present day Japan of the Korean Railway Employees Mutual Aid Association.
3. The Ministry of Finance, Japanese Government shall appoint a competent, impartial, unbiased individual as liquidator for the property who shall be solely responsible to the Japanese Government for the faithful performance of his duties. Upon appointment of the liquidator, the Japanese Government will effect transfer of title to the property from the Korean Railway Employees Mutual Aid Association to the liquidator, in trust however, for those members of the association who were in good standing on or after 15 August 1945. This liquidator will be charged with the duty of promptly carrying out and completing such liquidation, applying relevant parts of references 1b,c,d,e and f above, and filing reports with the Ministry of Finance, Japanese Government.
4. The Japanese Government having certified that the assets outside present day Japan were more than sufficient to pay claimants abroad, the following claims are to be satisfied in Japan:
a. Claims in Japan arising out of the business transactions of the association in Japan.
b. Claims for various benefits from Japanese members of the Association.
5. Any residual assets remaining after payment of the above claims are to be disposed of by the liquidator in accordance with the above referenced SCAPIN 1965 series.
6. The Ministry of Finance, Japanese Government, is to sumit a report to the Office of the Civil Property Custodian, General Head-quarters,Supreme Commander for the Allied Powers within thirty (30) days from the date of this memorandum regarding action taken to implement this memorandum. The submission of further reports to General Headquarters, Supreme Commander for the Allied Powers with respect to the progress of the liquidation will not be required.
FOR THE SUPREME COMMANDER:

 

K. B. BUSH
Brigadier General, USA
Adjutant General