Citing an "abject failure to make proper discovery," a Singapore appeals court has thrown out a decision favoring a bank over an individual investor in a dispute over $5 million in losses incurred during the global financial crisis from the purchase of a type of structured financial product called an accumulator.
May 24, 2013 at 02:25 AM
1 minute read
The original version of this story was published on Law.Com
Citing an "abject failure to make proper discovery," a Singapore appeals court has thrown out a decision favoring a bank over an individual investor in a dispute over $5 million in losses incurred during the global financial crisis.
Teo Wai Cheong had been an investor in a type of structured financial product called an accumulator, which he purchased through a private banker at the Singapore arm of French bank Credit Industriel et Commercial (CIC).
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