1. My preference is to consider collective legal action only as the last resort, after the other avenues have failed. Several investors are keen to consider this step now, as they have been disappointed with the steps now taken by MAS.
2. I have written to three lawyers to ask them to submit the following:
Can you give me a proposal for collective legal action. I wish to post this in my blog and ask the investors to indicate their desire to participate in this collective action.
In your proposal, please indicate the grounds for the action, the approach to be taken, the expected legal cost to the investor and the chance of winning. Please indicate the additional cost, if the investor loses the case and has to pay the other party's cost.
3. I suggest that the investors wait for the reply of the lawyers.
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- Hong Kong: Minibond investors demand full refund
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- Inteview with journalist (4)
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- A good settlement?
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- Where does the BUCK STOP?
- Lawyer: No obligation, no fee consultation
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- Response to Mr. Lim Hng Kiang and MAS
- Independent financial advisers are not able to com...
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- Exploitation of the consumer
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- MAS reply to Parliamentary Questions on Credit Lin...
- Interview at Bloomberg TV
- Continue your good work for ordinary citizens
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- Positive or negative?
- Petition #3 (To Mrs Lim Hwee Hua)
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- Be truthful, not fearful
- Petition #3 - Fair and equal compensation to all b...
- Onus of proof
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- Speaker's Corner - Credit linked securities
- Suing for defamatory remarks
- Call to MAS - investigate mass cheating
- New list of investors sorted by distributor
- Conscience, integrity and trust - a leader's hallm...
- General advice to investors of structured products...
- Interview with Sunday Times
- Ask for a full refund now
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- Not an isolated case
- Lehman Structured notes on Wheat and Milk
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