Belgian bank KBC seizes assets from storied Antwerp diamond firm

July 4, 2017

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Belgian bank KBC Group seized assets from one of the diamond industry’s most storied names as it seeks to recover unpaid loans, according to court documents. KBC is seeking to recover €26-million ($29-million) from Exelco, and had bailiffs search the firm’s Antwerp offices as well as offices belonging to De Beers and ABN Amro Group, where Exelco might also hold assets, court documents seen by Bloomberg News show. Exelco also has credit lines with Standard Chartered, said people familiar with the matter, who asked not to be identified because it’s private.

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