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Zambian businessman loses London lawsuit against Bob Diamond’s Atlas Mara

Zambian businessman loses London lawsuit against Bob Diamond’s Atlas Mara

A Zambian businessman lost a London lawsuit against Atlas Mara, the African investment vehicle set up by former Barclays boss Bob Diamond, over the acquisition of a Zambian bank. Rajan Mahtani sued Atlas Mara over the sale of Finance Bank Zambia, alleging he received less than a quarter of the $215 million said to have been offered in 2015. But Judge Christopher Butcher dismissed Mahtani's case in a written ruling on Wednesday, following a trial at London's High Court last year. Mahtani, who founded Finance Bank Zambia in 1986, had accused Atlas Mara of breaching the terms of the takeover…
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Mozambique ordered to open files in Credit Suisse, Privinvest ‘tuna bond’ case

Mozambique ordered to open files in Credit Suisse, Privinvest ‘tuna bond’ case

KIRSTIN RIDLEY and RACHEL SAVAGE A London judge ordered Mozambique to allow access to documents held in state offices or risk derailing a blockbuster London lawsuit against Credit Suisse, shipbuilder Privinvest and others over the $2 billion "tuna bond" case. The tuna bond or "hidden debt" scandal, one of Africa's most high-profile corruption cases of recent years, has triggered a spate of litigation from Maputo to Washington. But the London case could establish whether one of the world's poorest countries can secure compensation and restitution. Judge Robin Knowles, however, told the High Court in London that Mozambique had failed in…
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