ARGENTINA: Ahold contests court seizure of Disco shares
Dutch retailer Ahold is contesting a decision by an Argentine court to seize up to US$16.3m worth of shares it holds in its Disco subsidiary.
Ahold spokeswoman Martha van Dijk said the group was in talks with an Argentine judge and expected the seizure to be lifted “within days”, reported Reuters.
The seizure was ordered in early June as part of a case brought by former account holders at failed bank Banco Montevideo, part of the Velox group, which was Ahold’s partner in Disco from 1998 to 2002.
Ahold said the seizure was not ordered by the original Uruguayan court and that the judge in Argentina was “led into an error” by confusing correspondence.
"We think this seizure is unjustified," Van Dijk was quoted by Reuters as saying. She added that Ahold did not expect the case to stop its attempts to sell its Argentine unit.
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