A case management conference held at the Supreme Court on Wednesday resulted in the setting of the civil suit court date for the Natioinal Commercial Bank (NCB), that is looking to close the accounbts of Olint Corporation Ltd.
March 9, 2009 is the date when lawyers representing both parties will go to trial. NCB wants to close investment club, Olint Corporation accounts because they claim Olint did not comply with some procedural requests that includes providing audited financial statements.
Contesting the suit, Olint filed allegations against the bank. An application was made to consolidate the lawsuit filed against David Smith and his wife Tracey, who head Olint on Wednesday as well. That has been set for November 11.
In closing the personal accounts of the Smiths, NCB aims at ceasing to operate accounts for anyone affiliated with Olint.