Court battle continues for National Reserve Bank and Tonga Development Bank
Friday, September 20, 2024 - 20:27
The Tonga Development Bank will retain its CEO and Board Chairman, for the time being, pending the resolution of a dispute at trial, in an ongoing civil action against the National Reserve Bank of Tonga. Lord Chief Justice Malcolm Bishop, in a ruling on 19 September, also ordered that Tonga Development Bank (TDB) must still refrain from engaging in any economic development activities, without the prior approval of the National Reserve Bank of Tonga.
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