Protasco's Puzzling Purchase (6)

Protasco further announced the following details:


Total amount of claims against the defendants

Against the 1st Defendant
-         A payment of USD22 million;
-         Pre-judgment interest on USD22 million pursuant to Section 11 of the Civil Law Act 1956 from the date of the Writ of Summons until the date of judgment at an interest rate of 5% per annum;
-         Post judgment interest on USD22 million pursuant to Order 42 Rule 12 of the Rules of Court 2012 from the date of judgment till full and final settlement thereof at an interest rate of 5% per annum; and
-         Damages for the breach of the Restated SPA.

Against the 2nd and 3rd Defendants
-         A payment of USD27 million;
-         Pre-judgment interest on USD27 million pursuant to Section 11 of the Civil Law Act 1956 from the date of the Writ of Summons until the date of judgment at an interest rate of 5% per annum;
-         Post judgment interest on USD27 million pursuant to Order 42 Rule 12 of the Rules of Court 2012 from the date of judgment till full and final settlement thereof at an interest rate of 5% per annum;
-         Damages for fraud and conspiracy; and
-         General damages, aggravated and exemplary.


Protasco must have filed their version of the chain of events related to the mysterious purchase with the court. These documents (and the possible articles the defence might produce) must contain many interesting details that are still unknown to many at this moment.

Except for this court case, the big question is if the authorities should take further action. The severity of the alleged events seems to suggest that they might have to look into that.