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Bank Julius Baer Singapore concludes share accumulator dispute




Zurich, 27 September 2016 – On 27 September 2013 Julius Baer announced a writ of summons had been filed in the High Court of Singapore naming Bank Julius Baer & Co. Ltd. Singapore branch (‘the Bank’) as one of the defendants with an underlying claim amounting to about SGD 94 million and HKD 186 million (further or alternatively, damages to be assessed by the court) plus interest and costs stemming from a dispute over damages/losses allegedly incurred by the plaintiffs arising from share accumulator transactions in 2007 and 2008. The plaintiffs’ case has, by consent, been dismissed with costs by the High Court of Singapore and concluded for the Bank.