Lebanese Bank Prevails In Transfers Suit Over Forex Limits

By Silvia Martelli (December 20, 2021, 5:21 PM GMT) -- A London court has ruled in favor of a bank in Beirut in a lawsuit brought by a Lebanese national over repayment of his $1.4 million deposit with the lender that was barred by restrictions on foreign currency transfers amid the financial crisis.

Judge David Foxton said in a Friday ruling at the High Court that Blom Bank SAL has discharged its debt to Bilal Khalifeh by issuing a check in Lebanon.

Khalifeh sued the Lebanese bank in 2020. He alleged that the lender had wrongfully refused to pay him the balance on his account in a way in which he was...

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