IBM Corp is refusing to accept that its scandal-ridden $250m contract to automate the branches of the Argentine state-owned Banco de la Nacion Argentina has been canceled (CI No. 2,935). All of the terms of Banco Nacion’s accusations are rejected. Absolutely all of them, IBM told Reuters. We reject the terms of the cancellation of the contract and we regret that the bank has taken this decision as it doesn’t resolve their computer problem, it said. We are going to defend ourselves with a ll available means. The bank called the contract illegitimate, said IBM failed to meet the deadlines, and demanded it refund the $82m it had been paid so far, and also pay compensation. Investigating Judge Adolfo Bagnasco indicted 30 local IBM and state officials in April over the $37m paid by IBM to subcontractors for a back-up system not in the original deal.
