Eritrea faces default judgment in $200 million dispute with Qatar National Bank
Six months after being notified, the Horn of Africa country has yet to initiate its defence in the second court case against it.
20/08/2021 at 14h47, by Africa Business+
The dispute dates to March 2009 when the government of President Isaias Afwerki approached Qatar National Bank (QNB) to borrow $30 million before amending the terms of the contract signed by the finance ministry to increase the amount to $200 million.
Recommended articles
Mines
05/04/2023 at 18h17, by Africa Business+
Eritrean potash: Lawyer Pia Drummond to lead Australian Danakali’s exit
Having failed to fully finance its project, despite the support of Afreximbank and Africa Finance Corporation...
Advisory
06/09/2021 at 17h28, by Africa Business+
Egypt opts for Chaffetz Lindsey in $115 million dispute with Mohamed Bahgat
After selecting the law firm last month, the court has given Egypt three weeks to organise its defence...
Commercial banking
02/09/2020 at 15h41, by Mathieu Galtier
Why Lotfi Debbabi swapped STB for QNB in Tunisia
Jeune Afrique Business+ gives you the details.