Thursday, December 15, 2011

Business Times: Hearing of Morgan Stanley lawsuit adjourned

A LAWSUIT brought by Morgan Stanley in Singapore's High Court is now in limbo after a US court ordered it to stop trying to thwart a suit by Singapore Pinnacle Notes investors in New York.

A High Court hearing yesterday on the US investment bank's application for an anti-suit injunction was adjourned to Jan 16 after Morgan Stanley requested more time to appeal US District Judge Leonard Sand's ruling to the US Court of Appeals for the Second Circuit.

'As things stand now, Morgan Stanley did not proceed today because of the injunction issued against them by the New York federal court,' said Siraj Omar of Premier Law LLC. Mr Omar has been retained by several Pinnacle Notes investors to represent them in Singapore.

Read more in The Business Times

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