Friday, April 12, 2024
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Bank gets over BND8M in debt recovery


The Court of Appeal has granted a local bank the recovery of over BND8 million in outstanding debts owed by a local company.

The dispute initially unfolded in the High Court, where the Judicial Commissioner overturned a decision made by a Senior Registrar in favour of the bank.

The bank had filed a claim against the local company and its directors, seeking to recover the outstanding amount of BND8,688,840.50 after the company defaulted on its repayment obligations.

More details on Weekend’s Borneo Bulletin