Inflated Apartment Loans: UOB Loses Lawsuit Against Developer Lippo Marina Collection, Banking News & Top Stories

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SINGAPORE – UOB lost legal battle against Indonesian developer Lippo Marina Collection (LMC) in an effort to reclaim losses and damages that he suffered as a result of paying off the inflated home loans worth about $ 182 million.

High Court Judge Adit Abdullah on Monday (June 28) dismissed all claims against LMC, a subsidiary of the Indonesian Lippo Group, although the bank succeeded in its misrepresentation charges against the second and third defendants, real estate agents Goh Bak Lim, also known as Rick. … , and Aurellia Ho.

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