Tile-maker Interform Ceramics Technologies is being sued by the Belgian Bank for debts of HK$5 million and US$2 million.
The ceramics firm is named in a Court of First Instance writ along with Interform International as failing to repay the loans extended by the bank as of June 2.
According to the writ, Interform Ceramics was to act as guarantor of loans extended to Interform International.
An agreement was signed on January 25, 1996, stating that the ceramics arm would guarantee loans owed by Interform International up to the limit of HK$47 million.
Interform International owed Belgian Bank the sums of HK$5 million and US$2 million as of June 2, the writ states.
Two letters were sent to both Interform companies on June 8 by the banks' solicitors.
