Pakistan Broadsheet to seize further Pakistani assets following its failure to pay USD 2.2 million
Islamabad: The Broadsheet LLC has directed its lawyers at Crowell and Moring LLP to initiate new proceedings so that it could seize Pakistani assets after the company failed to get a reply from the country regarding the recovery of nearly $2.2 million, Geo News reported.
The development is likely to hit Pakistan.
Broadsheet’s CEO Kaveh Mousavi has instructed his lawyers at Crowell & Morning to initiate the assets-seizure operation after previously successfully seizing Pakistani assets through the orders of the London High Court, the news channel reported.
Broadsheet’s lawyers said the decision was taken after Allen & Overy failed to engage with Broadsheet despite giving assurances on February 1, 2021, that Pakistan desires “to resolve the matter without the need for further enforcement action," but failing to confirm further whether it had the instructions to deal with the matter or not.
“Our client has instructed us to seize further assets to satisfy the sums due to it on the outstanding judgments,” Broadsheet has said in a letter to Pakistan as quoted by Geo News.
A source told Geo News that the National Accountability Bureau (NAB) said that Pakistan has received correspondence regarding the latest developments and the matter is currently under review.
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