How UBL debited ~ 28M on behalf of NAB, despite objection from the High Commission???
How come NAB had such a large SUM in UK branch???
Something smells of a rotten fish!!!
The Pakistan High Commission has made a payment of $28.706 million (Rs4.59 billion) on behalf of the National Accountability Bureau (NAB) to the assets recovery firm Broadsheet LLC after losing the long-running litigation at the London High Court – 17 years after hiring the firm to trace alleged foreign assets of dozens of Pakistanis and being unable to find any.
On a hearing on 17 December, the London High Court ordered that $28.7 million should be debited by 30th of December. After the order was made and its copies sent to the United Bank Limited’s branch near Oxford Street, Pakistan High Commission and the NAB, the
High Commission wrote a letter to the bank threatening that it will stop doing business with the bank if it made the payment to Broadsheet.
The High Commission letter added: “In response, the Mission has sent a communication to the Chief Executive Officer UBL Brian Firth conveying that any attempt by the Bank to proceeds unilaterally debiting the account of Pakistan High Commission to meet the payment amount, without instructions, would be a violation of international law and a breach of trust and will have impact on our future relationship with UBL.”