Wednesday, October 31, 2007
Indon woman loss Amex case
A wealthy Indonesian woman who sued American Express to recover US$17.5million that the ban had deducted from her account due to foreign exchnage losses has lost her case in the High Court. She claimed that she did not know what she was signing when ehr son-in law, Mr Tommy Lim Thian Hong, asked her to put her name in the document in 1998. The Document turned out to be a" Third Party Liabilities agreement with Amex, under which the funds in her account were pledged to offset Mr Lim abilities to the bank.
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