Representatives of two United States law firms are expected to arrive in Hong Kong soon to establish links with local investors of the failed Lehman-related products in a bid to launch a no-win-no-pay class action in a US court.
Democratic Party lawmaker Albert Ho said yesterday the class action, if launched, would not affect local attempts at mediation, arbitration and buybacks in court cases.
"There is no collective litigation in Hong Kong," Ho said. "Besides, investors will only have to pay the lawyers should they be compensated [because of the no- win-no-pay approach, which is outlawed in Hong Kong]."
He said another major difference was that the US class action would be against the trustees while the Hong Kong cases are against retail banks.
can ask them to come singapore as well...:)
ReplyDeleteCan we team or join force with HongKong Minibond victims for the US class action to get back the justice we due for, since our Authorities here are so vulnerable in helping us out in this saga? Can someone help to organise this?. Feel so helpless...
ReplyDeleteThank you Mr Tan and lots of selfless peoples who have done all the things to keep us update.
Jason58
Can something similar be done for our Singapore victims? It's a "no-win-no-pay" class action! It's a win-win situation for all victims!!
ReplyDeleteWhen are they coming to spore.
ReplyDeleteNo win no pay approach is excellence.
Please , please Mr Tan. Please ask them whether they could open to Singaporean Minibond holders. Sorry to the FIs.. this is one of my Christmas wishes.
ReplyDeleteThank you again Mr Tan and have a good day
I agree. Can Mr Tan Kin Lian or someone with contacts or knowhow get in touch with the lawyers representatives to get them to come Singapore?
ReplyDeleteWe will be very interested to join this class action
I wonder why the FIs and other figureheads are that quick to dismiss Investors as plain greedy
ReplyDeleteCould it be because these Investors only want to bear the burden of a SUCCESSFUL investment free of responsibility or that they only want to find lawyers who are equally as keen (and desperate) to accept their clients who are only interested to bear that same burden of a SUCCESSFUL law suit as a compensation for their FAILED investments, again free of responsibility
in short, Free Heavy Burdens
Genuine investors only want to see their monies work harder for them!! How can you say they are greedy when the return is only 5% with all sorts of hidden time-bombs.Those chow angmo investment banks are the swindlers & cheaters who deserve to be brought to court to answer for their crimes.
ReplyDeleteMiniBonds in HK uses HSBC U.S. as their trustee hence the lawsuit could be in the U.S.
ReplyDeleteMiniBonds in SG uses HSBC SG as the trustee.
talking about thieves there are so many in the insurance companies,
ReplyDeletethe mdrthieves, the cothieves and tothieves.
smart or stupid thieves?
they are licensed thieves.