3 Banks in Jordan Locked in Legal Wrangling with Business Family

Published December 19th, 2000 - 02:00 GMT

Three commercial banks in Jordan are wrestling with well-known businessmen who have failed to repay their debts, the Jordan Times reported Tuesday. 

Lawyers representing the Arab Bank, the Hong Kong and Shanghai Banking Corporation (HSBC) and Standard Chartered Bank have intensified their legal efforts against the three businessmen, at the head of a group with multi-sectoral interests, from car dealership to produce, packaging to trade, the paper said. 

The three businessmen stand accused of having received $77 million in loans and credit from Stanchart in Dubai between 1998 and 1999, and having failed to repay the debts -- Albawaba.com

© 2000 Al Bawaba (www.albawaba.com)

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