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Swiss-based company is attempting to recover $1,000,000 USD 

Swiss-based company is attempting to recover $1,000,000 USD

Ramatex SA, a Swiss firm that provides the raw materials for the manufacture of fiber cement, has filed a court case to recover US$998 960 that is being held by the African Century Bank (ACB).

 

Customers could deposit money into a collection account Ramatex maintained with ACB, also known as a United States dollar account.

 

According to Ramatex, it was owing US$998 960 for providing goods on credit to Turnall Holdings Limited throughout the time up until October 2017.Ramatex SA, a Swiss firm that provides the raw materials for the manufacture of fiber cement, has filed a court case to recover US$998 960 that is being held by the African Century Bank (ACB).

 

Customers could deposit money into a collection account Ramatex maintained with ACB, also known as a United States dollar account.

 

According to Ramatex, it was owing US$998 960 for providing goods on credit to Turnall Holdings Limited throughout the time up until October 2017.

 

The Swiss company then gave its former attorneys the order to transfer US$998 960 from the Collection Account to its Swiss bank account.

 

The money was subsequently sent to the collection account, and the bank gave them reassurance that the transaction would go smoothly.

 

According to allegations, Zimbabwe’s monetary authorities amended the rules in or around February 2019, which led to the ABC Collection Account’s funds being labeled as blocked monies.

 

Then, in accordance with the guidelines established by the Reserve Bank of Zimbabwe, Ramatex asked the bank to register the amount of US$998 960 as a legacy debt, which ACB agreed to do.

 

Additionally, it is claimed that the bank was informed of the deadline.

 

 

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