17 May 2007

Top chief in Fiji declared bankrupt

10:33 am on 17 May 2007

The chief who led moves claiming to set up a 6-billion US dollar indigenous Fijian bank last year, Ratu Osea Gavidi, has been declared bankrupt with a court giving the official receiver power to seize all his assets.

Ratu Osea, who heads the Viti Land and Resource Owners Association, and several others were taken to court by the Official Receiver, Lesi Tuiwawa, for failing to repay a substantial loan from the state-owned Fiji Development Bank.

Mrs Tuiwawa has told the Fiji Sun newspaper the Suva magistrate's court has granted her a receiving order against the six people and all their assets are now owned by her in her capacity as the Official Receiver.