LONDON: The Commercial Court here started hearing yesterday the US$86.94mil (RM330mil) suit by UBS (Union Bank of Switzerland) against Tenaga Nasional Bhd over the terms of a US$500mil (RM1.9bil) bond issue.
At the same time, Tenaga is counter-suing the Swiss banking giant for alleged “gross negligence and wilful misrepresentation” over the terms of the bond issue in 1997.
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