COUNSEL & SOLICITOR:
Lim Kian Leong (Tan Wei Wei with him) (Lim Kian Leong & Co) for the first defendant.
HIGH COURT
Trusts and Trustees – Breach of – Fiduciary duty – Investment monies placed with fund manager siphoned off – Whether fund manager could escape vicarious liability for fraudulent actions of employee – Whether custodian of funds appointed by fund manager liable to investor for breach of fiduciary duties and negligence – Whether relationship between custodian and investor gave rise to fiduciary duty and duty of care – Whether fund manager rather than custodian bore greater degree of liability for loss to investor