United Overseas Bank Ltd (UOB – SGX: U11) filed a lawsuit against Lippo Marina Collection Pte Ltd (Lippo), a subsidiary of Lippo Limited (HKEX: 226), and seven other parties on November 2014 for allegedly misleading the bank into granting inflated housing loans for 38 condo units at Marina Collection (MC) in Sentosa Island. The bank had since dropped five defendants from its suit, but it maintains three main defendants, i.e., Lippo and two property agents named Rick Goh and Aurellia Ho. Over the past two years, the parties had been fighting over an affidavit made by Rick Goh, which supposedly benefitted UOB. Lippo had repeatedly asked for the said affidavit but UOB said disclosure was not possible due to a litigation privilege. After several trials, on June 16, 2017, the Singapore High Court decided that the disputed affidavit did not need to be disclosed and therefore Lippo’s appeal should be dismissed.To subscribe please click here