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National Commercial Bank of St. Vincent awarded damages over asset freeze

March 31, 2001 by David Marchant

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The National Commercial Bank of St. Vincent has been awarded damages by Grenada Supreme Court after its correspondent accounts were frozen in the United Kingdom by attorneys representing victims of the First International Bank of Grenada. In a decision on December 12, 2000, the court discharged an injunction that had been granted on August 11, 2000 in Grenada and September 14, 2000 in the High Court in England against NCB's assets held in correspondent accounts in the United Kingdom.

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