NY judge says Lazare Kaplan suit to be shifted to Belgium

The $500 million suit filed by Lazare Kaplan against Antwerp Diamond Bank, had the New York federal judge dismiss the case stating that the same would face ‘better trial’ in Belgium, reports say.

The case was filed by Lazare Kaplan in December with allegations on Belgian dealer Erez Daleyot for the latter having misappropriated Lazare’s Angolan diamonds, and Antwerp Diamond Bank having facilitated this.

In the process of the case proceedings, ADB had denied the charges and also filed a motion for dismissal of the case as it was also being litigated in Belgium.