Gem rock: An employee shows a kimberlite rock sample to visitors during a presentation on carbon storage in a laboratory, operated by De Beers in Johannesburg, South Africa. Exelco lost it status as one of De Beers’ 80 handpicked customers known as sightholders this year as it had been buying fewer diamonds from the top producer in recent times. — Bloomberg
LONDON: A Belgian court ordered lender KBC Group NV to return seized assets from one of the diamond industry’s most storied names within 24 hours, a court ruling shows.
Exelco NV was on track to repay loans to KBC by 2020 as planned, so the lender’s early seizure of assets was unnecessary, the Antwerp court ruled on Thursday. A spokesman for KBC declined to comment. Exelco also declined to comment.
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