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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 ....

United States , United Kingdom , City Of , Asif Ali Zardari , Nawaz Sharif , Pervez Musharraf , Benazir Bhutto , Brian Firth , National Accountability Bureau , Institute Of Arbitration , Foreign Office , Commonwealth Office , United National Bank , United Bank , Third Party Order , Third Party Debt Order , High Commission London , Pakistan High Commission , A Pakistan High Commission , A Final Third Party Order , London High Court , Vienna Convention , High Commission , Allen Overy , London High Court Financial Division , High Court ,

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. ....

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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. ....

United States , United Kingdom , City Of , Asif Ali Zardari , Nawaz Sharif , Pervez Musharraf , Benazir Bhutto , Brian Firth , National Accountability Bureau , High Commission To Pakistan Foreign Office , Institute Of Arbitration , Foreign Office , Commonwealth Office , United National Bank , United Bank , Third Party Order , Third Party Debt Order , High Commission London , Pakistan High Commission , A Pakistan High Commission , A Final Third Party Order , London High Court , Vienna Convention , High Commission , Allen Overy , London High Court Financial Division ,