ED&F Man Beats Jurisdictional Appeal In $284M Fraud Suit

Law360, London (November 26, 2019, 1:58 PM GMT) -- An appeals court on Tuesday rejected a jurisdictional challenge by a Singapore-based brokerage house over an alleged $284 million fraud, saying the risk of inconsistent judgments if the claims were not all brought in England shouldn’t be discounted.

Counsel for Straits (Singapore) PTE Ltd., which is the 10th defendant in ED&F Man Capital Markets Ltd.’s suit, argued at a hearing earlier this month that a lower court was wrong to find that a deciding factor for trying all the defendants together in London was avoiding multiple proceedings in different jurisdictions.

In its Tuesday ruling, the appellate court said contrary to that...

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