UOB has lost the legal battle against Indonesian developer Lippo Marina Collection (LMC) in its bid to recover the losses and damages it suffered from disbursing about $182 million in inflated home loans.
High Court judge Aedit Abdullah on Monday dismissed all claims against LMC, a subsidiary of Indonesia's Lippo Group, although the bank succeeded in its allegations of misrepresentations against the second and third defendants - property agents Goh Buck Lim - also known as Rick - and Aurellia Ho.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
