Indian Bank's $45M Fraud Claim Struck Out In UK

Law360, London (January 24, 2019, 5:38 PM GMT) -- A London judge on Thursday dismissed a claim brought by the U.K. arm of Punjab National Bank against nine defendants it had loaned $45 million to for oil refining and energy generating projects in the U.S., criticizing the ways the claim was made.

Chief Master Matthew Marsh ruled that Punjab National Bank's case should not be heard in London, stating that "the claimant is not able to demonstrate that this court is clearly the most appropriate forum for these claims." The bank had claimed it was duped and defrauded by the actions of the defendants — three companies and six individuals — into...

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