Foreign Bank Wins BD72,000 Court Claim
The High Commercial Court ordered a trading company to pay a foreign bank $191,361.81, equivalent to about BD72,335, for unpaid goods delivered to Bahrain more than seven years ago.
The case arose after a supplier assigned its right to recover the unpaid amount to the bank under a trade credit insurance policy.
Court records showed the company ordered goods in five shipments, totaling $231,322.69, with payment due within 120 days of shipment. The company received much of the goods but failed to settle the invoices.
An expert report confirmed the business relationship and found that the supplier fulfilled its obligations by shipping the goods. Following the payment default, the supplier claimed under its insurance policy and transferred its recovery rights to the bank.
The court found that the company had been formally notified of the transfer and accepted the expert’s findings based on the case documents.
The court therefore ordered the company to pay the bank $191,361.81, or its equivalent in Bahraini dinars.
Related Posts