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Facts, not deceit

It also is imperative that your readers are informed of comments made at a meeting held on 10th December, 1973 at which both the president and the general manager of NBM were present

14 July 2017, 10:18am
A 40-year saga is entering its final chapter for the National Bank of Malta’s shareholders and their heirs
A 40-year saga is entering its final chapter for the National Bank of Malta’s shareholders and their heirs
Regarding the comments by Mr Jeremy Cassar Torreggiani (25 June, 2017) his arguments have already been fully answered and refuted in Court, so there is no need to respond or reply.

However, it is important to note that based on his background, he does not appear to be an objective or disinterested observer. Indeed, he seems to have a strong pecuniary interest in the outcome of the National Bank of Malta (NBM) shareholders’ claim for compensation. 

We, on the other hand, have no pecuniary interest whatsoever in the final outcome. We were engaged solely to analyse the facts and evidence and to render an expert opinion.

It also is imperative that your readers are informed of comments made at a meeting held on 10th December, 1973 at which both the president and the general manager of NBM were present. The record of that meeting shows that “[the NBM representative] indicated that it could be possible for Government to take over National (NBM) without putting up any money (that is giving the shares at nil value). The important thing was to safeguard the depositors.”

This statement made by NBM officials shows that they had recognised already in mid-December 1973 that the bank was insolvent and its shares had zero value. They knew it then, and all the evidence and analysis since, including the independent report by Deloitte & Co., has reaffirmed that fact.

R.W. Nun, USA

Victoria terminus shortcomings

Whoever is responsible for it should see to the situation. I am referring to the bus terminus in Victoria, which is a fairly heavily used facility that is somewhat cramped for space where it matters.

The terminus operates fairly efficiently, and there does not seem to be any mayhem, in spite of all the buses operating from it, coming and going.

But, for one, there are at times so many passengers waiting for their bus to come, that there are not enough benches where one can seat oneself. A few more benches would help.

And the area where commuters have to wait for the route 301 bus, which takes them to Mgarr and the ferry, is totally unprotected, and a hazard at present, with the sun beating down on them mercilessly. As it is route 301 passengers have to wait in the main area, resulting in a bit of a rush when the 301 bus turns up.

But the main point I want to make is about the cover the main area provides to passengers waiting for their bus. Until quite a few weeks ago, two large sections of the ceiling had come off, or were removed. Luckily for commuters, it has again not rained much this year, so waiting for the bus did not often amount to waiting in the rain.

But since a few weeks, another section of the ceiling has gone missing, or was removed, and there is now a considerable area of several square metres missing the cover to protect against the sun, or the rain when that comes.

Can somebody please see to this without delay? The missing sections do not make for an attractive sight. The place looks a bit of a shambles.

Paul Vella, Xewkija

Cartoon or best actor?

“Mickey mouse country”, John Bundy’s immortal expression, readily comes to mind.

According to Mr. R. Mifsud, we are a basically corrupt people. The allegedly wickedly corrupt ones are at the moment awaiting judgement.  

When the magisterial enquiries are over, perhaps imperceptibly, one thing will emerge. We would have discovered the greatest actor in the world.  

When the political leaders confronted each other on TV, during the election campaign – both were extremely convincing in their arguments.

John Azzopardi, Zabbar

DealToday
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