Pilatus Bank has announced it has started legal actions in the United States of America against “individuals” it said had threatened its reputation with defamatory allegations.
The bank is at the centre of a political storm with allegations by the Nationalist Party that is handled a bank account in Panama in the name of Michelle Muscat, wife of Prime Minister Joseph Muscat.
In a statement, the bank said, “The bank will actively pursue all parties and individuals, directly and indirectly involved in making such harmful allegations being broadcast on national television, radio, and published in national newspapers as well as online news sites in all international competent courts for commercial and punitive damages due to irreparable harm to the Bank and its stakeholders.”
“The Bank takes matters of confidentiality extremely seriously and will pursue all individuals and parties who have disclosed information that the law considers as confidential, as well for misappropriating confidential information of the Bank including trade secrets with swift international and local legal actions for all damages,” the bank said.
“There are laws that prohibit the Bank from discussing FIAU or any regulatory agency reports and their contents and thereby prevent it from being able to respond directly to statements published alongside the ‘leaked’ alleged FIAU report. Those laws also require that such reports, their contents, and conclusive findings are treated with utmost confidentiality.”
Photo: Seyed Ali Sadr Hasheminejad, chairman of Pilatus Bank