13 Apr 2017
ZHANG HONG LI AND OTHERS v. DBS BANK (HONG KONG) LTD AND OTHERS
- Citation
- ZHANG HONG LI AND OTHERS v. DBS BANK (HONG KONG) LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCL2/2011
DBS Trustee and DHJ Management breached their supervisory/trustee or director duties by approving (i) substantial AUD purchases in the extremely adverse market conditions in late July–early August 2008 and (ii) purchases of decumulators that were inappropriate hedges and exposed the trust/underlying company to prolonged currency lock‑up; those failures amounted to gross negligence (serious or flagrant negligence) warranting equitable restitution/compensation and specific monetary orders directed at restoration of the trust/underlying company assets. Other claims against DBS Bank, DBS:PB, DBS…