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HSBC Bank Malta Refuses to Pay €2.2 Million After Final Court Ruling

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HSBC Bank Malta still has not paid more than €2.2 million owed to Tyre Services Ltd despite a final court judgment. After depositing the funds in court, HSBC says it will wait for new proceedings and argues Tyre owes it payments on an old loan. Courts found the acquisition flawed, awarded Tyre €851,884 then increased damages to €1.44 million, and HSBC seeks to revoke a garnishee order.

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