deutsche-and-beckkett-both-claim-laurels-in-adaro-saga

Deutsche and Beckkett both claim laurels in Adaro saga

A decision by the Singapore Court of Appeal reignites a PR battle as it supports Deutsche's claim for loan repayment, but rules that the bank failed to act with due care.

There is a chance that the seven-year dispute between Beckkett and Deutsche Bank over the sale of PT Adaro shares, which were held by the bank as collateral for a loan, has come closer to resolution. On Monday, the Singapore Court of Appeal published its judgment on appeals made by both sides on rulings handed out by the country's High Court in September 2007.

The Court of Appeal reaffirmed the lower court's decision that neither Deutsche nor any third parties conspired in 2001 to sell shares in Adaro, Indonesia's second biggest coal miner, for less than they were worth but said the German lender had breached its duty for failing to...

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