A $181 million lawsuit filed by United Overseas Bank (UOB) against developer Lippo Marina Collection (LMC) and seven individuals went to trial this week.
UOB which commenced legal proceedings in 2015, is accusing the subsidiary of Indonesia's Lippo Group of being involved in a conspiracy with seven individuals to get inflated housing loans to buyers of condominium units, and is seeking damages and costs.
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