Credit Suisse Trust Limited’s successful appeal in US$1.1 billion breach-of-duty case

Rajah & Tann Singapore, member firm or Rajah & Tann Asia, successfully acted for Credit Suisse Trust Limited in an appeal before the Singapore International Commercial Court involving a complex breach-of-duty case arising from a fraud involving the mismanagement of trust assets exceeding US$1.1 billion. The appeal resulted in a significant reduction of compensation payable by about US$300 million. Senior Partner Lee Eng Beng, SC and Partner Torsten Cheong from the Commercial Litigation Practice and Partner Disa Sim from the Appellate Advocacy Practice led the matter.