NATIONAL FERTILIZERS LTD. vs TUNCAY ALANKUS

The Supreme Court held that Tuncay Alankus was guilty of contempt of court for violating its orders dated September 4, 2006, and December 14, 2006, by withdrawing funds from a Swiss bank account. The Court found sufficient evidence that Alankus did not deny the allegations of withdrawal in his reply to the contempt petition. Although the Court did not impose immediate punishment, it indicated that if Alankus deposited the withdrawn amount, it might reconsider the contempt ruling. The case was ultimately heard again to determine the extent of contempt committed.