Monday, November 24, 2008

Strategy on credit linked notes

My next step is to help the investors to identify suitable lawyers to take up a legal case on the misrepresentation in the advertisements and prospectus on the credit linked notes.

It is possible to identify a group of investors who have been misled by these materials and to claim for a full refund, based on the misrepresentation of the product.

The investors will have to identity the grounds of misrepresentation and to discuss it with the lawyer.

I hope that this will encourage the distributor to offer a fair settlement out of court. A fair settlement in my view should be 50% of the amount lost by the investor, i.e. both parties share the loss equally.


Chan J C said...

Dear Mr Tan

Thank again for your kindness in helping the public to get their justice done.

Please include me (i.e. myself, wife and sister) in your strategy.

I am posting this note with my personal gmail address whereby you could reach us.

Thanks again for your kindness.


Anonymous said...

for starters, theres no such thing as 50 50, its an false logic

Second the FIs will never agreed to 50 becos thats as good as admitting they are equally, if not somehow, at fault, to them most of all it carries the risk of opening other Pandora Boxes, past and present

The best strategy i mentioned before

Find Defectors, but the trick is not to pay them whilst they had to risk their neck..

And their careers

Without Defectors, any legal proceeding is going to be weak. Honestly.

Anonymous said...

For those who are eligible, they may approah Legal Aid Bureau for legal advice or assistance.

Legal Aid Bureau
45 Maxwell Rd #08-12
The URA Centre, East Wing
Singapore 069118
Tel: (65) 1800 325 1424 (toll-free)
Fax: (65) 63251402

Mondays to Fridays 8.30am to 12.30pm
2.00pm to 5.00pm
Saturdays 8.30am to 12.30pm

The eligibility criteria for legal aid are:

(a) you have to be a Singapore Citizen or a Singapore Permanent Resident and is present in Singapore;

(b) you have to satisfy the ”Means Test”. Your disposable income, that is, your income for the past 12 months before the date of application for legal aid and after deducting prescribed allowances, must not exceed $10,000/-, and your disposable capital must not exceed $10,000/-; and

(c) there must be merits in your case. (The ”Merits Test” )

If you do not satisfy the Means Test but are facing hardship, the Director of Legal Aid may extend legal aid to you (subject to the requirements of the Merits Test) if:

1. You satisfy certain statutory provisions; and

2. It appears to him in his absolute discretion to be reasonable to do so to relieve hardship.

For those who are eligible, no harm trying; already nothing to lose.

Anonymous said...


Legal aid wont apply well for most of the Investors in this case becos

1. This is a Civil, aka personal, dispute UNLESS authorities or court interject and denounce it as cheating officially

2. Most of the investors would not be able to fulfill the stringent qualifying criteria easily, even if they do, they need go thru an even tighter screening process before they are actually represented, at best they could seek advice, but only for some time and only certain time

3. Even they are represented, only some drastic cases would be, for example precisely the Vulnerable group pple. becos its public aid, the whole process will be long drawn out and maybe not all their lawyers would be available all the time. there may be change of pple along the process, and turn out some might not be 'experts' or 'fully committed' - some might even convince you to settle at the first offer. Then again theres no guarantee of winning and theres the possibility of countersue which would be a separate case, that they mostly wont be responsible and likely also be out of their jurrisdiction

Very very tricky path

Anonymous said...

Contrary to what 12.48 pm has claimed, legal aid covers exactly civil suits.

From LAB website, it is stated that legal aid covers a wide range of civil matters including divorce, adoptions, claims for maintenance, custody of children, separation, wrongful dismissals, tenancy disputes, monetary claims, motor and industrial accident claims and estate matters. The Bureau does not handle criminal matters.

Also, three categories of professional help are available from the Legal Aid Bureau. They are:

Legal advice, which consists of oral advice on questions of Singapore law and procedure.

Legal assistance, which is available for the drafting of various legal documents including wills, deeds of separation, deeds of severance of cohabitation and deed polls.

Legal aid, which covers representations in court proceedings.

At this messy and pitiful state when everybody is feeling helpless and angry, the least a person with some conscience could do is not to cause confusion.

Anonymous said...


I assume, no need assume, I can tell almost immediately, you have not tasted what you so strongly recommended

I suggest you try what you are selling BEFORE even you try to pitch it to someone else

The we know whose confusing who

Good luck

Anonymous said...


I realise u sound like some student the way you are referring your entire understanding, if not copying wholesale, of legal aid from THEIR website alone. Theres no practical, realistic experience inferred at all.

Please have a conscience not to inject investors with false hope, as much as YOU might intend to

This is Reality we are talking about.

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