Diamond firm’s seized assets ordered to be returned by court

July 7, 2017

Responsive image

A Belgian court ordered lender KBC Group to return seized assets from one of the diamond industry’s most storied names within 24 hours, a court ruling shows. Exelco was on track to repay loans to KBC by 2020 as planned, so the lender’s early seizure of assets was unnecessary, the Antwerp court ruled on Thursday. A spokesman for KBC declined to comment. Exelco also declined to comment.

Category: General