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Section

SECTION 5: Recovery of debt owed to failed banks

Part of
Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act

Notwithstanding anything to the contrary in any law, deed, agreement or memorandum of understanding, the Court shall have exclusive jurisdiction to hear and determine all matters brought before it concerning the recovery from any person of any debt owed to a failed bank, which remains…

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