A New York court has given the defendants an ‘opportunity to settle’

The New York Supreme Court has given the defendants an opportunity to settle out of court in the case filed by Bangladesh Bank in the US court against Rizal Bank of the Philippines and several other institutions in the case of reserve theft.

This order came from the court of New York on January 13. Bangladesh Bank Spokesperson and Executive Director Majbaul Haque gave this information on Monday after receiving his copy.

The petition filed by Rizal Commercial Banking Corporation (RCBC) to quash the case was dismissed and a compromise order was passed. For this, the defendants have been given 20 working days.

“The New York State Court has ordered RCBC and other defendants to file a response within 20 days or next February 2,” Mejbaul told reporters. Also directed the mediation.”

He said that Bangladesh Bank’s legal department based in New York will review the matter of mediation.

Bangladesh Bank had earlier informed that US law firm Cozen O’Connor was responsible for handling the case on their behalf.

The Central Bank of Bangladesh filed this case in 2020 to recover 6.64 million dollars out of 8.1 million stolen from the reserve.

In addition to Rizal Bank, 20 companies are also accused in the case, including Solari Resort and Casino and Bloomberry Resort Corp., which operates Manila Bay.

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