Taiwan wins NT$6.4 billion in legal claims against ex-allies

Taiwan wins court rulings on outstanding debt still owed by former diplomatic allies

Taiwan News
Date: 2017/03/31
By: Keoni Everington, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — A Taiwanese state-run bank has won a legal claim against two

Former Vice President Yen Chia-kan (left) and former President of Democratic Republic of the Congo Mobutu Sese Seko (right) in 1960s.(By Central News Agency)

African nations for NT$6.4 billion (US$212 million) in unpaid loans, and a suit against a third country is pending, reports Reuters.

Taiwan’s Export-Import Bank of the Republic of China (Eximbank) brought three claims against the Guinea Bissau, the Central African Republic, and the Democratic Republic of Congo to a U.S. district court, which total NT$7.9 billion in unpaid loans and interest.

In two separate rulings in January of this year, judges of a U.S. district court in New York State ruled in favor of Eximbank in the case of Congo and the Central African Republic for NT$1.7 billion and NT$4.7 billion, respectively. It is not yet known if or how these countries will settle these claims.    [FULL  STORY]

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