Kenneth Jeyaretnam appeals High Court decision on IMF loan
Reform party chief Kenneth Jeyaretnam has filed a notice of appeal against a High Court judge's decision to dismiss his bid to block the Singapore government's US$4 billion loan commitment to the International Monetary Fund (IMF).
In a statement released on Thursday, Mr Jeyaretnam said the judgment was "of such paramount public interest that it demands an appeal". He had taken into consideration the advice of legal experts and the public interest and support he had received, he said.
A week ago, Mr Jeyaretnam announced on social media and his blog that he was raising funds as the Attorney-General's Chambers had asked for security of $20,000 before he could lodge his appeal. Donations have been coming in since then, he said. Among the donors was former presidential candidate Tan Kin Lian, who gave $1,000 and put up a message on his Facebook page asking the public to donate.
Mr Jeyaretnam is appealing against Justice Tan Lee Meng's ruling in October that the Government's loan commitment to the IMF did not breach Article 144 of the Constitution. The opposition politician had applied in July to stop the Monetary Authority of Singapore from giving the loan, arguing that the pledge had been made without the approval of the President and Parliament.