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Qatar Bank Rips Yacht Owner's Bid To Dodge €5M Claim

Law360, London (January 4, 2019, 9:06 PM GMT) -- Qatar National Bank has argued that Force India Ltd.’s defense against a lawsuit seeking recovery under a loan, either through €5.2 million in damages or sale of the company's yacht, should be struck because the arguments made in it are “hopeless” when held up against the terms of the contract.

Qatar National Bank, the largest bank by assets in the Middle East, is suing the owners of the yacht “Force India” in an effort to recover around €5.2 million ($6 million) it says it is owed under a €27 million loan with Gizmo Invest SA, a Luxembourg-based entity owned by Vijay...

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