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Papa and son seek $2.6mil damages for $900k trading loss


Ahtong
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the father wanna argue that the signed contract should not stand as son was under 21.

 

But swiss says the contract signed is a swiss contract.. which stands as their legal age is 18.

 

but whatever it is... the bloody father wanna sue based on hindsight losses/winners. Ridiculous!

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I truly wondered what happened if the reverse happened, that is, the son trading without his father knowledge and made millions instead of loosing money, will the father take a civil case against the bank, so that the father can give the bank the money earned

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Nope, son will transfer the money out and father will sue the son coz the money was made from their joint account and he will demand a share of it.

his son will fight back saying his good sight made the money nothing to do with his dad.

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settle liao ... no one wants to open the closet to let everyone see

Face already plastered across national newspaper. Don't open closet also embarrassing enough.

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Supercharged

settle liao ... no one wants to open the closet to let everyone see

 

The father was a director in stockbroking firm, and he still dare to take the bank to court for this case? Pea brain.......

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settle liao ... no one wants to open the closet to let everyone see

 

shld investigate them for insider trading... these guys prob part of the "gang".

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Turbocharged

My opinion...if let's say your son is loosing money in stock trading in the first 3 months, would you continue using the investment manager or fire his ass and get another more capable one?

 

Continue loosing money for 9 months. It's possible what the father claim that he's kept in the dark is right. IMO they might win the case.

 

The fact that he is in the dark despite opening a joint investment account with his son means he is somewhat already in the wrong.

 

It is like giving your son a stack of signed cheques and then don't bother to track whether he has spent any of it or not. Now, if he has spent the whole stack, can you go to the bank and say you are in the dark and request the bank to void all the cheque transaction?

 

 

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In Sg, one can sue banks for causing them to lose money from investments

 

and also sue casino for extending credit to them to lose even more money gambling [thumbsup]

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In Sg, one can sue banks for causing them to lose money from investments

 

and also sue casino for extending credit to them to lose even more money gambling [thumbsup]

We are going the way of the USA... Being stupid can win money!

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Turbocharged

settled out of court. That probably means they got some compensation right??

 

you people still say he has no case??

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Turbocharged

settled out of court. That probably means they got some compensation right??

 

you people still say he has no case??

 

I don't think this move of settling out of court is a question of whether there is a case here.

 

It is more of trying to just keep things in the closet regardless who is right or wrong.

 

 

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Cheaper to reach a negotiated settlement without any admission of liability than to have a costly legal battle in court, which they *might* lose and have to pay for the claimants' costs as well. Plus that might open the door to future suits from other claimants.

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The son's face.... Really is the kiam pah type of face. This is the kind of face that gets them killed in gang fights.

 

No lah, he looks kinda, er er er kungfu pandaish?

:D

 

Sorry sorry, i shouldnt make fun of people's looks.

I'm sorry.

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settled out of court. That probably means they got some compensation right??

 

you people still say he has no case??

 

Not necessarily.

 

We dont know who compensated and who was compensated. [cool]

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