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Bank Fights To Claw Back £3.6M Paid In Zumax Fight

Law360, London (July 1, 2020, 9:31 PM BST) — First City Monument Bank urged a London judge on Wednesday to order Zumax Nigeria Ltd. to return the more than £3.6 million ($4.5 million) the bank paid the engineering company for a now-overturned judgment, or face having its suit over the money tossed.

At a two-day hearing before High Court Judge Robert Miles that began Wednesday, the bank sought to get back the millions it paid out while Zumax sought to re-amend its claim over a series of bank transfers that the Nigerian company claims were not properly completed. 

The long-running dispute, which began in 2013, has already gone to the Court…

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Source: www.law360.com