Bank Audi Closes Over 30 British-Held Accounts after uk Ruling-Depositors’ Group

Lebanon’s Bank Audi has closed more than 30 accounts belonging to UK nationals or their close relatives since a London court ordered it to transfer funds stuck in the crisis-hit banking sector to a British client, a depositors’ union said.

The Feb. 28 order requiring Bank Audi and its peer SGBL to transfer $4 million is the first UK ruling obliging Lebanese banks to transfer dollars out of the paralyzed financial system, potentially encouraging similar claims.