Court orders repayment of €4 million in debt

Bolin Construction Limited was yesterday ordered to pay back over €4.6 million in loans to HSBC Malta bank.

Legal Procurator Catherine Fenech yesterday confirmed to a court that through a deed signed on 20 December 1995, Bolin had been loaned the sum of €1,855,039 (Lm700,000) by the bank. However the loan was not repaid.

On 13 November last year, HSBC demanded payment of €3,249,093 in outstanding repayments and €1,394,053 incurred in interest over the unpaid amount up to March last year.

The acts of the case prove that representatives of Bolin Construction Limited were summoned to appear in court but the defendants did not turn up when the case was called.

Mr Justice Anthony Ellul upheld the request filed by pay HSBC Bank Malta plc and ordered Bolin Construction Limited to pay the sum of €4,643,146, relating to loan repayments and interest.