There appears to be a flurry of activities happening on the minibond legal front in Hong Kong.
Two legal law firms from the United States will be going to Hong Kong to establish links with investors. They are working on a “pay only if we win” deal.
Hong Kong minibond investors eye US class action suit (The Standard)
Two Singaporeans who are based in Hong Kong have proceeded with a US$1.26 million lawsuit against DBS. It will be interesting to see how things unfold.
It was also reported that 60 investors in Hong Kong have received HK$30 million in compensation from the financial institutions. The range of compensation was very wide with some of them even getting a full refund with interest.
Banks repay $30 million (AFP)
5 younger Minibond investors in Hong Kong, aged 33 to 44, have filed claims at the Small Claims Tribunal with assistance from the Democratic Party. Most of the investors who have reached settlement have been over 50.