June 16, 2023

JTrust Asia Pte Ltd v Group Lease Holdings Pte Ltd and others: Res judicata leads to USD 124 million judgment 

On 10 April 2023, the General Division of the High Court allowed the claimant’s claim for losses suffered from a round-tripping fraud which had previously been litigated before the Court of Appeal. The General Division held that the Court of Appeal’s judgment gave rise to issue estoppels precluding the defendants from disputing their liability to the claimants, which was quantified at approximately USD 124 million. 

The General Division’s grounds of decision in [2023] SGHC 167 can be found here.

Chan Leng Sun SC and Colin Liew acted for the successful claimant, instructed by Baker & McKenzie.Wong & Leow.