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A messy affair: Pakistan pays Rs4.59b to British firm for lost case

January 1, 2021
LONDON: The Pakistan High Commission has made a payment of $28.706 million (Rs4.59 billion) on behalf of the National Accountability Bureau (NAB) to the assets recovery firm Broadsheet LLC after losing the long-running litigation at the London High Court – 17 years after hiring the firm to trace alleged foreign assets of dozens of Pakistanis and being unable to find any.
The London High Court’s Financial Division had issued on 17 December a Final Third Party Order for payment to the NAB’s former client Broadsheet by 30th of December – drawing curtains on a case that has cost Pakistani taxpayers billions of rupees. Ironically, Broadsheet was hired by NAB during Pervez Musharraf’s government in 2003 to trace assets in the UK and USA of more than 200 Pakistanis (called ‘targets’ in the contract) including generals, politicians, businessmen - Benazir Bhutto, Asif Ali Zardari and Nawaz Sharif as the chief targets. The firm didn’t recover a singl ....

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NAB - Broadsheet saga: Pakistan pays Rs4.59 bn to British firm for lost case

The firm was hired to trace assets of Benazir Bhutto, Asif Ali Zardari and Nawaz Sharif and others in UK and US ....

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British court orders Pakistan to pay $28.7 million to UK firm

Story highlights
On December 17 the London High Court’s Financial Division had issued a Final Third Party Order for payment to NAB’s former client Broadsheet by December 30 bringing to end a case that has cost Pakistani taxpayers billions of rupees.
The Government of Pakistan has made a payment of $28.706 million (Rs4.59 billion) to the British firm Broadsheet LLC after losing the long-running litigation at the London High Court.
The payment was made by Pakistan High Commission (PHC) on behalf of the National Accountability Bureau (NAB) to the assets recovery firm 17 years after it was hired to trace alleged foreign assets of dozens of Pakistanis which it failed to find any. ....

United Kingdom , City Of , Nawaz Sharif , Asif Zardari , Pakistan High Commission , National Accountability Bureau , London High Court , London High Court Financial Division , Third Party Order , London High , Financial Division , Final Third Party Order , ஒன்றுபட்டது கிஂக்டம் , நகரம் ஆஃப் , நவாஸ் ஷெரிப் , பாக்கிஸ்தான் உயர் தரகு , தேசிய பொறுப்பு பணியகம் , லண்டன் உயர் நீதிமன்றம் , லண்டன் உயர் நீதிமன்றம் நிதி பிரிவு , மூன்றாவது கட்சி ஆர்டர் , லண்டன் உயர் , நிதி பிரிவு , இறுதி மூன்றாவது கட்சி ஆர்டர் ,

UK court orders deduction of Rs 450 cr from accounts of Pakistan High Commission over penalty dues

UK court orders deduction of Rs 450 cr from accounts of Pakistan High Commission over penalty dues
In November 2018, the London Court of International Arbitration (LCIA) slapped a penalty of USD 17 million on the anti-corruption watchdog.
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By PTI
ISLAMABAD: A British high court has ordered debiting Rs 450 crore from the accounts of the Pakistan High Commission in London over non-payment of a penalty by the National Accountability Bureau (NAB) to the foreign asset recovery firm Broadsheet LLC, according to a media report.
Following the court orders, the United Bank Limited UK wrote a letter to the Pakistan High Commission on December 29, requesting it to provide written payment instructions with debit account details to facilitate the payment of USD 28,706,533.35 in line with the Final Third Party Order issued by the high court, the Express Tribune reported on Thursday. ....

United Kingdom , City Of , Nawaz Sharif , Pervez Musharraf , Asif Zardari , National Accountability Bureau , London Court , United Bank Limited Kingdom , Foreign Office , Pakistan High Commission , Pakistan High Commission On , International Arbitration , Third Party Order , Final Third Party Order , Express Tribune , ஒன்றுபட்டது கிஂக்டம் , நகரம் ஆஃப் , நவாஸ் ஷெரிப் , பெறுவேஜ் முஷாரஃப் , தேசிய பொறுப்பு பணியகம் , லண்டன் நீதிமன்றம் , ஒன்றுபட்டது வங்கி வரையறுக்கப்பட்டவை கிஂக்டம் , வெளிநாட்டு அலுவலகம் , பாக்கிஸ்தான் உயர் தரகு , பாக்கிஸ்தான் உயர் தரகு ஆன் , சர்வதேச நடுவர் ,

A messy affair: Pakistan pays Rs4.59 bn to British firm for lost case

LONDON/ISLAMABAD: The Pakistan High Commission has made a payment of $28.706 million on behalf of the National Accountability Bureau to the assets recovery firm Broadsheet LLC after losing the. ....

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