LONDON - National Westminster Bank accepted shares in an Israeli company as collateral for a $27 million Maxwell company loan despite confusion about their ownership, according to a lawyer for Kevin Maxwell, son of the late financier Robert Maxwell.

Alun Jones said at the fraud trial of Robert Maxwell's sons, Kevin and Ian, that the bank knew Bishopsgate Management, the Maxwell group's pension fund, and its main private holding company both claimed ownership of the Teva shares.

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