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January 2, 2021
LONDON: The Government of Pakistan has made a payment of nearly $29 million under a London High Court order to the Broadsheet LLC but the litigation is far from over as liquidating agents of the assets recovery firm are seeking several million more from the National Accountability Bureau (NAB), $3 million (approx Rs483 million) in interests and costs at the rate of $5,000 per day.
An agent of the Broadsheet LLC has told this reporter that the NAB still owes the Broadsheet $3 million and interest rate of $5,000 per day on the overall award amount. “I can confirm that US$28,706,533.34 (4.6 billion) has been paid into the Broadsheet LLC Liquidator’s account as per the court Order on account of $22 million judgment and $6 million in initial legal costs. The cost of around $3 million legal costs is still owed and it is costing the Pakistan Govt $150,000 per month at the rate of $5,000 per day and growing. We have an enforcement cost Order from the court.
Broadsheet LLC seeks millions more from NAB after getting $28.7 million
By
Another $3 million is still owed
As NAB drags its feet, the amount keeps increasing every day due to statutory interest
LONDON: Following a London High Court order, the Government of Pakistan paid $29 million to Broadsheet LLC but the litigation is far from over as the firm is now seeking millions more from the National Accountability Bureau.
An agent of the firm told Geo.tv that the bureau owes $3 million in legal costs. Confirming a payment worth $28,706,533.34 (28.7 million) by the Pakistani government to Broadsheet LLC liquidator s account as per the court ruling on account of $22 million judgment and $6 million initial legal costs, the agent said NAB still owes $3 million legal costs and it is costing the Pakistani government $150,000 per month at a statutory interest rate of $5000 per day.
Top Story
January 2, 2021
LONDON: The Government of Pakistan has made a payment of nearly $29 million under a London High Court order to the Broadsheet LLC but the litigation is far from over as liquidating agents of the assets recovery firm are seeking several millions more from the National Accountability Bureau (NAB) - $3 million (approx Rs483 million) in interests and costs at the rate of $5,000 per day.
An agent of the Broadsheet LLC has told this reporter that the NAB still owes the Broadsheet $3 million and interest rate of $5,000 per day on the overall award amount. “I can confirm that US$28,706,533.34 (4.6 billion) has been paid into the Broadsheet LLC Liquidator’s account as per the court Order on account of $22 million judgment and $6 million in initial legal costs. The cost of around $3 million legal costs is still owed and it is costing the Pakistan Govt $150,000 per month at the rate of $5,000 per day and growing. We have an enforcement cost Order from the court
01/01/2021 | Press release | Distributed by Public on 01/01/2021 00:33
8th meeting of Afghanistan Pakistan Transit Trade Coordination Authority (APTTCA)
28-30th December 2020, Islamabad, Pakistan: The 8th meeting of Afghanistan Pakistan Transit Trade Coordination Authority (APTTCA) was held in Islamabad from 28th to 30th December, 2020. The Afghanistan delegation was led by Mr. Nisar Ahmad Faizi Ghoryani, Minister of Industry and Commerce of Afghanistan. During the visit, he had meetings with the Prime Minister of Pakistan, Mr. Abdul Razak Dawood, Advisor to the Prime Minister of Pakistan on Commerce and Investment, Mr. Ali Zaidi Minister for Maritime Affairs, Mr. Asad Qaiser Speaker of National Assembly and Private Sector of Pakistan.