Court decision on DBS High Notes

Investors took action against DBS on the High Notes. Their argument was on a mistake in the prospectus that led to inconsistency. DBS lawyers argued that it was an "obvious clerical mistake" and should not be used to void the contract. The court decided in favor of DBS.

I suspect that the legal fees involved in this argument of "an obvious clerical mistake" must amount to several million dollars. It is a great time for lawyers. So much fees are at stake to argue this small issue. Surely, there are larger issues of fairness, justice and responsibility of DBS in creating and issuing the High Notes?

It seems that justice does not count much in Singapore today.What seems more important is the pursuit of profits and economic growth.

Tan Kin Lian