Admarc faces lawsuit over cotton
Admarc is being sued by Chartia Textiles Limited for over $15 million due to breached cotton supply contracts.Summary
State-owned Admarc is facing a lawsuit from Chartia Textiles Limited after failing to meet a November 24th, 2025 deadline to pay over $15 million (approximately K26 billion). Chartia claims this amount is owed due to breach of contract, inducing breach of contract, and wrongful interference related to cotton lint supply agreements.
The claim encompasses several demands, including specific performance of a pre-financing agreement, $9.3 million in compensatory damages, $582,240 for wrongful interference with another contract, and $5.12 million for causing Chartia to breach contracts with other international cotton firms. The dispute stems from transactions involving cotton shipments from Mozambique to Bangladesh and separate agreements with various buyers, including Ecom Agroindustry Corp.
Admarc has declined to comment, citing ongoing court proceedings (Commercial Cause No. 148 of 2023). Chartia also reserves the right to sue Admarc for reputational damage related to a newspaper article they allege was published at Admarc’s direction, causing financial losses.
(Source：The Nation Online)