Goldman Sachs wins bid to halt Singapore investor’s suit
Oei plans to appeal, says Bloomberg.
According to a report by Bloomberg, a Goldman Sachs Group Inc. (GS) unit won a bid to halt Singaporean wealth-management client Oei Hong Leong’s lawsuit over trading losses on the Brazilian real in favor of private arbitration.
The ruling was made in a closed hearing today at Singapore’s High Court. Oei’s lawyer Siraj Omar said he planned to appeal the decision. Edward Naylor, a Hong Kong-based spokesman for Goldman Sachs, declined to comment on the verdict.
Read full report here.