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.
Please subscribe or log in to continue reading the full article.
Get unlimited access to all stories at $0.99/month
- Latest headlines and exclusive stories
- In-depth analyses and award-winning multimedia content
- Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*
*Terms and conditions apply.
Source: Read Full Article