SINGAPORE: UOB is seeking to get S$92mil from Indonesian developer Lippo Marina Collection (LMC) over losses incurred from disbursing approximately S$182mil in inflated home loans.
The Appellate Division of the High Court had in October 2022 overturned an earlier decision, finding LMC liable for using unlawful means in a conspiracy with real estate agents to sell properties to be financed by UOB.
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