Pakistan set for legal tussle as Broadsheet fallout fattens
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January 17, 2021
LONDON/ISLAMABAD: Pakistan’s Ministry of Foreign Affairs is planning to get into an expensive legal fight with the United Bank Limited’s UK branch for debiting nearly $29 million to the accounts of the Broadsheet LLC as the huge fallout of Pakistan’s total loss of $65 million in the case starts to roll out and the state of Pakistan takes stock of monumental mistakes in the course of two decades.
Papers available with these correspondents show that the Ministry of Foreign Affairs has taken off its hands, suggesting that it was not in the loop while multi-million dollar cases were being fought in the UK. The government of Pakistan has decided to launch action against the UBL’s London branch for the “breach of trust, unauthorized debit of accounts and becoming Third Party without informing its client (Pakistan High Commission in London”, according to the minutes of an inter-ministeri
Broadsheet seeks another Rs337m
January 10, 2021
LONDON: The Broadsheet LLC has written to the lawyers of National Accountability Bureau (NAB) in London seeking an additional sum of US$1,180,799.66, while confirming that it’s in receipt of funds from United National Bank’s London branch in the sum of US$28,706,533.34.
This reporter saw a copy of the letter, sent to NAB in Pakistan, NAB’s lawyers Allen & Overy and copied to the United Bank Limited’s London Bond Street branch.
The Broadsheet has confirmed that it has received nearly US$29 million “in accordance with the terms of Deputy Master Lay’s order of 17 December 2020”.
Broadsheet seeks Rs337m more
January 10, 2021
LONDON: The Broadsheet LLC has written to the lawyers of NAB in London seeking an additional sum of US$1,180,799.66, while confirming that it’s in receipt of funds from United National Bank’s London branch in the sum of US$28,706,533.34.
This reporter saw a copy of the letter, sent to NAB in Pakistan, NAB’s lawyers Allen & Overy and copied to the United Bank Limited’s London Bond Street branch.
The Broadsheet has confirmed that it has received nearly US$29 million “in accordance with the terms of Deputy Master Lay’s order of 17 December 2020”.
Meezan Bank, and Bank Al- Habib have crossed the deposits mark of Rs. 1 trillion. These banks are the sixth and seventh banks in the banking industry that