Mereja Forum

[Aba]

https://www.dohanews.co/qnb-asks-us-cou ... lion-debt/

[Zmeselo]

The slave mentality goes very deep, globally! It isn't confined, only to our continent. What made the slave holding gangster state- Qatar- believe, the US can order Eritrea to do anything whatsoever?

[Aba]

Bozzo,
Read the article, moron.

QNB asks US court to order Eritrea to pay $300 million debt

By Asmahan Qarjouli
August 11, 2021. Business Source: Aalmeen News

Officials at the Eritrean embassy in London locked one of the Qatari bank’s lawyers in the building to hinder the delivery of court documents in 2018.

Qatar National Bank QPSC [QNB] asked a Washington, D.C. court to order Eritrea to pay about $300 million of debt after the Horn of Africa nation refused to respond to two lawsuits filed by the lender, Bloomberg reported on Tuesday.

Eritrea borrowed $200 from the Middle East’s largest lender in 2009 and 2010 and only returned $45 of the amount in May 2012 without returning the remaining amount.

The bank later sought legal recourse in the UK in 2018 per the loan agreement, and a year later, a judged ordered Eritrea to pay its creditor $254 million in addition to interest. Eritrea stopped responding to lawyers.

This prompted QNB to request a judgement by default from a US federal court on Friday after filing a complaint in the same US legal body in February, saying that President Isaias Afwerki’s government, who has ruled the country for 28 years, allegedly avoided being served with legal documents.

QNB said that Eritrea’s debt has now risen to $295.3 million, which is equivalent to more than 10% of the African nation’s $2.3 billion gross domestic product [gdp].

Avoiding legal action

QNB alleges that Eritrea has not been responsive with court rulings and chose not to defend itself in both the UK and US cases, while responding to lawyers with hostility.

The bank said in the court filings that staff at the Eritrean embassy in London even locked one of the bank’s lawyers in the diplomatic building until he agreed to leave without handing the court documents.

Another representative was also “physically assaulted” as a receptionist threw the court papers on the embassy’s pavement, after which a British judge allowed the documents to be sent via email or post.

“The receptionist physically knocked the documents out of a process server’s hands and threw them on the pavement outside the embassy’s front door,” read the bank’s complaint.

Among the documents filed by QNB was a letter sent in March 2009 by Eritrea’s Afwerki, in which he stated his commitment to repaying the loan to the Qatari bank through tax revenue and income from the Bisha mine, a gold-copper-zinc project currently run by China’s Zijin Mining Group Co. that entered production ten years ago.

Bloomberg said the legal dispute can lead to the discouragement of investments in Asmara, which already stands as the second last economy out of 190 others in the World Bank’s Ease of Doing Business rankings.

The Washington court’s decision would enable QNB identify and seize Eritrea’s overseas assets.

https://www.dohanews.co/qnb-asks-us-cou ... lion-debt/

[Aba]

Bozzo,
Your junta is funny as hell

Qatar Bank Asks U.S. Court to Order Eritrea to Pay $300 Million Debt

By William Clowes August 10, 2021, 5:31 AM PDT

■ Doha-based lender is seeking payment of about $300 million
■ Amount being claimed is more than 10% of Eritrea’s GDP

Qatar National Bank QPSC, the Middle East’s biggest lender, asked a U.S. court to order Eritrea to pay nearly $300 million of debt after the Horn of Africa nation refused to participate in two lawsuits.

The Doha-based bank requested a judgment by default from a federal court in Washington on Friday after Eritrea failed to respond to the bank’s claim seeking to enforce a U.K. ruling in 2019. QNB alleges that President Isaias Afwerki’s government went to drastic lengths to avoid being served with key documents.

A decision in its favor will help the Qatari bank identify and seize Eritrea’s overseas assets, according to the complaint it filed in the U.S. court in February. The legal battle may further discourage investment in the African country, which currently stands second from last among 190 economies in the World Bank’s Ease of Doing Business rankings.

The quarrel centers on $200 million that Eritrea borrowed from QNB in 2009 and 2010. The bank claims Afwerki’s government reneged on the debt in May 2012 after repaying about $45 million. That prompted the lender in 2018 to seek legal recourse in the U.K., as permitted under the loan agreement. The following year a judge directed Eritrea to pay its creditor $253 million plus interest.

Eritrea ignored the ruling, according to QNB. The bank then turned toward the U.S. court in February in a bid to enforce the judgment. Eritrea has chosen not to defend itself in either case.

Staff at the Eritrean embassy in London “responded with extraordinary efforts to frustrate” the U.K. proceedings, QNB said in its complaint to the U.S. court.

Embassy officials locked one of the bank’s lawyers in the building until he agreed to leave without delivering the court documents, while another representative was “physically assaulted,” according to QNB’s filings.

Documents on the Pavement

On one occasion, “the receptionist physically knocked the documents out of a process server’s hands and threw them on the pavement outside the embassy’s front door,” the complaint said. A British judge eventually allowed the bank to send paperwork by email or post.

In its latest court filing, QNB said Eritrea’s debt has risen to $295.3 million. The amount is equivalent to more than 10% of the nation’s $2.3 billion gross domestic product.

Neither Eritrea’s Information Minister Yemane Gebremeskel nor QNB’s media department responded to phone calls or emails seeking comment. Qatar’s sovereign wealth fund owns 50% of QNB.

Afwerki committed to repaying the loan through tax revenue and income from the Bisha mine, a gold-copper-zinc project currently controlled by China’s Zijin Mining Group Co. that entered production ten years ago, according to a letter sent in March 2009 by the president’s office to QNB, which the lender filed to the court in Washington.

Afwerki has ruled Eritrea since it gained independence in 1993. The country began emerging from decades of international isolation when it signed a peace deal with neighboring Ethiopia three years ago.

The case is Qatar National Bank v. Government of Eritrea, 21-cv-00436, U.S. District Court, District of Columbia

— With assistance by Simon Marks

https://www.bloomberg.com/news/articles ... ebt-ruling

[Zmeselo]

Assets? What assets?



Funny people! And if there're any assets to seize, then why the need for the US to "order" anything? Just seize those "assets" then, if you can find them! What a bunch of....

[Aba]

Assets? What assets?

[image]hts://c.tenor.com/wIxFiobxxbIAAAAM/john-jonah-jameson-lol.gif[/image]

Funny people! And if there're any assets to seize, then why the need for the US to "order" anything? Just seize those "assets" then, if you can find them! What a bunch of....

Ayeeee. Don't you know how the law works? Oooops, I forgot you don't even have a constitution in higdef mendef land. Don't they teach you anything at your refugee camp in Scandinavia?
Welfare queens will always be Welfare queens.

[Zmeselo]

Find the assets, biiatches. Don't change the subject!