Deloitte: Statement on Barings court ruling
Statement on behalf of Deloitte & Touche Singapore following the decision to dismiss the case against Deloitte brought on by Barings' liquidators, KPMG.
The Liquidators of Baring Futures Singapore and Barings PLC, and the Singapore firm of Deloitte & Touche, have today settled all aspects of the litigation between them, including all costs issues. Following the decisions by the Honourable Mr Justice Evans-Lombe on 11 June 2003, in which he awarded damages to Baring Futures Singapore, appeals were lodged by the Barings parties in the Court of Appeal. These appeals were to commence on 21 April 2004.
The appeals have now been withdrawn on terms that each party bear its own costs of the appeals and the High Court actions, and Baring Futures Singapore will not enforce its judgment.