AsiaEuropeFinance and Insurance

Nobu Su’s RBS litigation gathers pace

Nobu Su, chairman of Today Makes Tomorrow (TMT), has successfully served Fred Goodwin, former chief executive of UK bank RBS, with court papers as his litigation against the bank gathers pace.

Su’s lawyers have already served papers to defendants RBS, RBS Singapore and ex-RBS employee Marie Chang, who were represented by their respective solicitors at a pre-trial conference in the Lion City on Wednesday.

The remaining defendant, Neena Birdee, has not yet been located.

Goodwin’s lawyers in Singapore were served with a writ and statement of claim on June 22. His solicitors have been instructed to set aside service of the writ on the grounds of forum non conveniens (i.e. that another court may be better suited to handle the claim).

Su has alleged the defendants breached their fiduciary duties to the bank and were negligent in protecting his business interests.

The bankers “made remittances and transfers on a number of occasions for their own purposes without his consent” and siphoned off $3.6bn from Su’s account without his consent, he claims.

The bankers “conspired to injure Mr Su by unlawful means” from 2007 to 2009, an earlier TMT statement said.

Another pre-trial conference has been scheduled for August 3.


Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
Back to top button