Weston International Capital Limited Files US 198,200,000 Lawsuit against Robert Tantular
EBENE, REPUBLIC OF MAURITIUS, April 10, 2014 /EINPresswire.com/ -- Weston International Capital Limited
Files US 198,200,000 Lawsuit against Robert Tantular
Weston International Capital Limited (“WICL”) announced today that a trial date has been set in Mauritius for May14, 2014 in the legal action it is pursuing against Robert Tantular in his capacity as an owner of several companies that have defaulted an over US $600 million of corporate debt owed to First Global Funds Limited PCC (Mauritius).
The action is being heard in the Supreme Court of Mauritius (Commercial Division) in the matter of First Global Funds Limited PCC (Plaintiff) versus Robert Tantular a/k/a Robert Tan (Defendant).
The defaulted securities issued by Robert Tantular and his companies backed Fund Linked Notes issued by Nomura International PLC, held by Bank Century TBK and used as collateral to borrow funds for Tantular. These defaulted loans caused harm to First Global Fund Limited PCC shareholders of which the largest is PT Bank Mutiara TBK.
WICL is pursuing Mr. Tantular in order to repay First Global Funds Limited PCC shareholders and PT Bank Mutiara TBK. A spokesman for Weston stated “Any recovery will be used to partially repay PT Bank Mutiara and could represent significant collections for PT Bank Mutiara non-performing loan portfolio and FGFL shareholders”.
Contact: Investor Relations
Isabela Cismariu (icismariu@westonfinancial.com)
+44 203 600 8800
Files US 198,200,000 Lawsuit against Robert Tantular
Weston International Capital Limited (“WICL”) announced today that a trial date has been set in Mauritius for May14, 2014 in the legal action it is pursuing against Robert Tantular in his capacity as an owner of several companies that have defaulted an over US $600 million of corporate debt owed to First Global Funds Limited PCC (Mauritius).
The action is being heard in the Supreme Court of Mauritius (Commercial Division) in the matter of First Global Funds Limited PCC (Plaintiff) versus Robert Tantular a/k/a Robert Tan (Defendant).
The defaulted securities issued by Robert Tantular and his companies backed Fund Linked Notes issued by Nomura International PLC, held by Bank Century TBK and used as collateral to borrow funds for Tantular. These defaulted loans caused harm to First Global Fund Limited PCC shareholders of which the largest is PT Bank Mutiara TBK.
WICL is pursuing Mr. Tantular in order to repay First Global Funds Limited PCC shareholders and PT Bank Mutiara TBK. A spokesman for Weston stated “Any recovery will be used to partially repay PT Bank Mutiara and could represent significant collections for PT Bank Mutiara non-performing loan portfolio and FGFL shareholders”.
Contact: Investor Relations
Isabela Cismariu (icismariu@westonfinancial.com)
+44 203 600 8800
Isabela Cismariu
Weston International Capital Limited
+44 203 600 8800
email us here
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