U.S. authorities hunting in Swiss banks for suspected tax cheats have a new weapon in their arsenal: an arcane but aggressive legal maneuver more commonly used against drug smugglers, money launderers and Imelda Marcos, widow of the Philippine dictator.
Faced with a number of cases of denial of secret foreign bank account holdings, the Income Tax department has decided to re-open past tax returns of such individuals in Mumbai and Delhi among others, in order to unearth black money stashed abroad.
In an interview during his first visit to Thailand since he took over the chairmanship in November last year, Leite was bullish on the prospect of the emerging world, as firms in several countries including Thailand are spreading businesses overseas.
Sabahagchand Choithramanni Gurdas filed a writ in the High Court yesterday that claimed the bank breached a restructuring agreement in 1984 and other agreements, including various mortgages, charges and a guarantee it held as security over assets he owned
The Woori decision is being followed by a move to take a legal action against Citigroup, Bank of America (BoA)-Merrill Lynch and Royal Bank of Scotland (RBS) with a U.S. court to hold them responsible for losses in derivatives investments of as much as $3