Credit Suisse Trust ordered to pay former Georgia prime minister and billionaire US$926 million
SINGAPORE: The Singapore International Commercial Court on Friday ordered Credit Suisse Trust to pay compensation of US$926 million to tycoon and former Georgia prime minister Bidzina Ivanishvili and his family.
Mr Ivanishvili, along with his wife and three of their children, sued Credit Suisse Trust claiming damages of about US$1.2 billion. They were the beneficiaries of the Mandalay Trust. Mr Ivanishvili's long relationship with Credit Suisse Trust in Singapore began in 2004, when an officer of the private investment banking arm of the Credit Suisse Group approached him and offered to assist him with wealth management services.
Until August 2022, the defendant held a position that the plaintiffs had to prove the fraud perpetrated by Lescaudron, even though the latter had pleaded guilty and was jailed for the fraud.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hyundai Motor Group, LG Energy to build US$4.3 billion EV battery plant in USSEOUL: South Korea's Hyundai Motor Group and LG Energy Solution will build an electric vehicle (EV) battery plant in the United States with a combined investment of US$4.3 billion, the companies said on Friday (May 26). Starting construction in the second half of 2023, the Hyundai-LGES plant in Georgia pla
Read more »
Father in China fulfils wish of daughter, 3, after she places cake ‘order’ on toy phoneHe said it was a way “to give his daughter a better childhood”. Read more at straitstimes.com.
Read more »
3-year-old in China gets cake ‘order’ placed on toy phoneMaking his three-year-old daughter Xiao Ai happy is a piece of cake for her father. His loving act started when the girl in Zhejiang province in China placed an “order” for a strawberry cake on her toy phone. Xiao Ai had read about a “Happiness Cake...
Read more »
New in town: Pang Pang Western Food — cheap Western grub like $14.50 Prime Ribeye & $7.50 Chicken Chop at Marine ParadeAs Singapore’s cost of living skyrockets, it has become increasingly difficult to find cheap yet good food. Located in Marine Parade Central Market and Food Centre, Pang Pang Western Food is here to save our taste buds (and wallets) with their affordable Western cuisine. Opened very recently on 1 May 2023, this Western stall is […] The post New in town: Pang Pang Western Food — cheap Western grub like $14.50 Prime Ribeye & $7.50 Chicken Chop at Marine Parade appeared first on SETHLUI.com.
Read more »
'It's a matter of time': DPM Wong says no decision yet on when he'll become prime ministerTOKYO — There is no decision yet on when exactly he will take over from Prime Minister Lee Hsien Loong, but it is 'a matter of time', Deputy Prime Minister Lawrence Wong said on Thursday (May 25). This could happen 'before or after' the next general election, which must be held by 2025, added Mr Wong, who is also Finance...
Read more »
How can I return something to Shopee that I never received? asks netizen whose refund request was denied - Singapore NewsShopee split her order into two shipments and she received only one, she says
Read more »