UK court orders Pakistani High Commission to pay $28.7 mln owed by accountability bureau

ISLAMABAD: A high court in the United Kingdom has ordered that $28.7 million be debited from the accounts of the Pakistan High Commission in London over non-payment of a penalty by the National Accountability Bureau (NAB) to a foreign firm, Pakistani media reported on Friday. 
Broadsheet LLC, a US-based assets recovery firm, was used during the tenure of military ruler General Pervez Musharraf to help the then-government and newly established NAB track foreign assets purchased through illegal money. 
Last year, the company filed a claim with the London High Court to enforce the payment of the outstanding $22 million owed to the firm by NAB. Broadsheet had also asked that an interest of $4,758 per day be applied, Dawn newspaper reported.
The deadline for the payment of the penalty owed to the firm was December 31.
An English court in December 2018 issued an order for payment of $22 million to Broadsheet by the government of Pakistan. In July this year, the government unsuccessfully appealed the arbitration.
The arbitrator found that Pakistan and NAB had wrongfully repudiated an asset recovery agreement with Broadsheet and ruled that the company was entitled to damages, Dawn said.