Bank Trial Over $27M Debt Starts Without No-Show Borrowers

Law360, London (November 10, 2020, 7:57 PM GMT) -- A London judge pushed forward Tuesday with a trial against eight individuals Punjab National Bank accused of dodging more than $27 million in loan debts, saying they failed to provide a "satisfactory explanation" as to why they didn't show up for court.

Jeremy Cousins QC, sitting as a judge of the High Court's Chancery Division, rejected an application filed by the lead defendant, Irfan Furniturewala, who told the court that his family had been put into home isolation after a neighbor in their apartment building tested positive for COVID-19.

The judge said the bank's evidence showed that the family members had...

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