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British court rejects Broadsheet’s plea seeking custody of Sharif family's Avenfield flats

08:50 PM | 4 Jan, 2021
British court rejects Broadsheet’s plea seeking custody of Sharif family's Avenfield flats

LONDON – The UK High Court of Justice has dismissed a plea of Broadsheet seeking an order for the attachment of four Avenfield Apartments owned by the Sharif family in a default case against the National Accountability Bureau (NAB).

The Broadsheet had asked for attachment of the four apartments arguing that since the confiscation of the apartments was ordered by Judge Muhammad Bashir of the Accountability Court in the Avenfield reference, the Government of Pakistan had concern in the properties and therefore it should be made part of the court proceedings.

The Broadsheet claimed that the Pakistan Tehreek-e-Insaaf (PTI) government had requested to British authorities to hand over Avenfield flats to Pakistan while the court upheld the claim of the assets recovery firm Broadsheet by freezing the Pakistan High Commission’s bank accounts after the company won the lawsuit and received around $29 million in judgment and costs.

Earlier in October 2019, the Avenfield flats were subjected to a claim by the Broadsheet LLCat the London High Court to enforce the payment of the outstanding $22 million owed to the firm by the Government of Pakistan.

The Government of Pakistan made a payment of nearly $29 million on December 30 under a London High Court order to the company.

Sharif's family lawyer hailed the order by the London High Court. Expressing his views on the court ruling he said, we are glad the court made the judgment based on facts and vacated any proceedings against the Avenfield apartments.

Earlier in the year 2018, Judge Mohammad Bashir handed Nawaz Sharif 10 years as jail time for owning assets beyond known income and one year for not cooperating with the National corruption watchdog.

Former premier Nawaz Sharif family was alleged to get these flats, worth around £8 million, through dirty money means. The court also directed the authorities to confiscate the Avenfield assets.

Ousted PM Nawaz Sharif was jailed in July 2018, till he was released on bail.

Earlier in November 2019, Sharif left for Britain for medical treatment after the Lahore High Court allowed him to travel abroad for four weeks. He was supposed to come after the allowed time but he never returned to Pakistan.

Recently, Interior Minister Sheikh Rashid Ahmed announced that PML-N supremo Nawaz Sharif's passport will be cancelled on February 16.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 22 February 2024

Pakistani rupee remains stable against US dollar and other currencies in the open market on February 22, 2024 (Thursday)

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300.2 for buying and 303.2 for selling while British Pound rate stands at 350.6 for buying, and 354.1 for selling.

UAE Dirham AED hovers at 76.2 whereas the Saudi Riyal saw slight increase, with new rates at 74.45.

Today’s currency exchange rates in Pakistan - 22 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300.2 303.2
UK Pound Sterling GBP 350.6 354.1
U.A.E Dirham AED 76.2 76.95
Saudi Riyal SAR 74.45 75.2
Australian Dollar AUD 181.15 183.15
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207.15 209.15
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207.1 209.1
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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