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Coca Cola sues Mozambican bank over missing funds
Published in: Legalbrief Today
Date: Wed 06 April 2005
Category: Litigation
Issue No: 1309



The Mozambican branch of Coca-Cola has threatened to take the country's largest bank, BIM (International Bank of Mozambique), to court, in order to recover some 12 billion meticais (US$600 000) fraudulently removed from the soft drink giant’s accounts.

Agencia de Informacao de Mocambique quotes Coca-Cola manager Soren Hansen as saying the company was surprised by a note from the Finance Ministry, fining it for non-payment of taxes. He said the tax payments were deducted from the company’s accounts, but the Ministry said it had not received payment. Coca Cola is now suing the bank over the missing funds.
Full report by Agencia de Informacao de Mocambique




  


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