Management of National Investment Bank Limited wishes to inform the general public, especially its cherished customers, that on Thursday, 21st February, 2013, judgment was given against the Bank at the Commercial Court in a case brought against it by Dominion Corporate Trustees Limited, a UK-based offshore company.
The Court ruled that NIB was to pay the said foreign entity an approximated amount of US$90 million for the Bank’s failure to pay up for promissory notes worth an amount of US$60 million in 2007.
The Bank would wish to use this opportunity to assure its cherished clients that this ruling has not in any way affected the Bank’s business with its customers. The Bank further moves to reassure customers that their monies are safe with the Bank and that any information alluding to a collapse of the Bank and a loss of customers’ monies are TOTALLY FALSE.
Inasmuch that the Bank regrets the unfortunate and unjustifiable judgment given by the Court, it wishes to assure its numerous customers that the Bank will immediately exercise its right to file an appeal and order a stay of execution against the ruling. The Bank is totally convinced that the verdict of the judge did not reflect the facts that were presented before the Court and therefore believes that the Court of Appeal will uphold its appeal and reverse the orders made by the Commercial Court.
JERRY NATHANIEL HALM
Head, Customer Service and Public Relations
National Investment Bank Limited
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