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EFG “fundamentally disagrees” with Taiwan arbitration tribunal over loan ruling

EFG Bank said today that it “fundamentally disagrees” with a ruling by a Taiwan arbitration tribunal, which has ordered the bank to return US$193.8 million in assets used as collateral for a loan to the Singapore-domiciled affiliate of a Taiwanese insurance company, Singfor Life The tribunal maintains that the transaction from EFG to the affiliate of the insurance company was…

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