TKQP Scores Significant Results in the United Overseas Bank Ltd v Lippo Marina Collection Pte Ltd and Others Case

TKQP continues to score significant results in the ongoing United Overseas Bank Ltd v Lippo Marina Collection Pte Ltd and others case.

We are acting for United Overseas Bank Ltd (UOB) in its claims for fraud and conspiracy against, amongst others, Lippo Marina Collection Pte Ltd (Lippo Marina), a property development company within the well-known Lippo Group, relating to UOB’s grant of mortgage loans amounting to an aggregate sum of S$181 million for the purchase of luxury condominium units at The Marina Collection at Sentosa Cove developed by Lippo Marina.

We had previously succeeded in an interlocutory application for summary determination on a complex area of law pertaining to whether a plaintiff (the victim of fraud) is attributed with the knowledge or actions of a fraudulent employee so as to preclude it from suing other persons on the basis of misrepresentation and deceit involving that employee. The High Court’s decision is reported at United Overseas Bank Ltd v Lippo Marina Collection Pte Ltd and others [2016] 2 SLR 597.

Since then, we have successfully argued against Lippo Marina’s appeal for specific discovery of an affidavit affirmed by a co-defendant pursuant to a settlement with UOB. In this application, several novel issues arose including litigation privilege in the context of a multi-party litigation. The High Court’s decision is reported at United Overseas Bank Ltd v Lippo Marina Collection Pte Ltd [2017] SGHC 140, and is a landmark ruling on the applicability of litigation privilege to documents which are shared with one adversary pursuant to a settlement with that party, even though the litigation remains live against some other party. The decision is an important development in the law on privilege and will have an important bearing on trial preparation and strategy in the context of a multi-party litigation.

The team was led by Joint Managing Partner, Eddee Ng, with support from Senior Associate, Alcina Lynn Chew and Associate, Sherlene Goh.