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]
