Taiwan Tells 2nd Circ. To Hold Grenada's Cash Amid Loan Row

Law360, New York (March 6, 2013, 7:27 PM EST) -- Taiwan's export-import bank asked the Second Circuit to freeze Grenada's U.S. assets as it tries to recover $32 million in unpaid infrastructure loans to the Caribbean island country, arguing the money should be held while it builds a case.

A lower court made a mistake when it blocked the bank from serving restraining notices on airlines and cruise lines that pay fees to Grenada, a lawyer for the Export-Import Bank of the Republic of China said at oral arguments.

Ex-Im Bank of ROC wants to recover $32 million owed after Grenada defaulted on several loans. The country won the judgment in...

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