4 Oct 2006

Organisation in Fiji fails to collect debts

7:49 pm on 4 October 2006

The entity set up by the Fiji government to try and collect 157 million US dollars in bad debts which led to the collapse of the National Bank of Fiji 10 years ago is winding down its operations.

But Fiji TV reports that the Asset Management Bank has managed to collect only a small fraction of the amount, most of which was owed by prominent politicians, public servants and business people in what was Fiji's biggest financial scandal.

The chairman of the Asset Management Bank Daniel Elisha, says they did not make too many friends in trying to do their job.

Mr Elisha says they have to close down in 12 months and what happens next is up to the government.