由此 - 16 - A B 54. A Mr. Remedios did not challenge ARY’s explanation for the revocation of LBMA associate membership in cross-examination. C D E 55. ARY explained that in 2003 ARY Traders’ business in gold had declined due to the ARY Group diversifying into real estate. ARY was B C D E also ill at the time. Meanwhile, one of the 3 banks which had originally F G sponsored ARY Traders’ membership in the LBMA had ceased to be an LBMA member, while another had joined with a competitor and so was not F G willing to renew its sponsorship. As a result, it was not possible within the H I time required to secure the 3 sponsors which (under a 2003 change to LBMA’s constitution) were necessary if ARY Traders was to continue as H I an LBMA associate. J J K 56. Further, as far as I can see from the material before me, at the K time when the Article was published, there was no evidence of any British L M N O bank accounts of the ARY or the ARY Group being closed by any authorities as a result of investigations. 57. M I therefore can see no evidentiary foundation for the meanings pleaded in SOC §8(a), (b) and (g). It follows that Section II is defamatory. (d) R N O P P Q L 58. Section III Section III purports to link ARY (and the ARY Group) with Mr. Abdul Qadeer Khan (AQK) who it is said made “millions of dollars ... Q R from selling nuclear-bomb designs to countries such as North Korea and S T Libya”. The latter 2 countries are typically associated in the mind of the general public with the state-financing of terrorism. The millions S T mentioned are expressly described as “ill-gotten” and said to be under U U V V