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Belgian Bank KBC Seizes Assets From Storied Antwerp Diamond Firm

By Tony Seruga

Exelco said to have credit lines with Standard Chartered
Gem polisher was co-founded by scion of Tolkowsky family

Belgian bank KBC Group NV seized assets from one of the diamond industry’s most storied names as it seeks to recover unpaid loans, according to court documents.

KBC is seeking to recover 26 million euros ($29 million) from Exelco NV, and had bailiffs search the firm’s Antwerp offices as well as offices belonging to De Beers and ABN Amro Group NV, where Exelco might also hold assets, court documents seen by Bloomberg News show. Exelco also has credit lines with Standard Chartered Plc, said people familiar with the matter, who asked not to be identified because it’s private…

Belgian Bank KBC Seizes Assets From Storied Antwerp Diamond Firm

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