Russian Bank Sues British Phone Retailers For $9M

Law360, London (October 2, 2020, 6:20 PM BST) -- Russia's PSJC National Bank Trust is suing the owners of a British smartphone manufacturer in London's High Court to recoup nearly $9 million in alleged missed loan repayments.  

The lender said in its court filing that Nooreddin Valimahomed and Robert Agee owe the money after they agreed to act as guarantors so their business Wileyfox Europe Ltd. could secure financing. The owners committed to making the loan repayments if their company missed any, according to public court documents. 

National Bank Trust says it took the loan agreements onto its books after merging with another bank in 2019. 

Valimahomed needs to...

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