{
  "id": 3152552,
  "title": "UOB v Lippo Marina Collection: Court quadruples damages awarded to bank to S$76.1 million",
  "url": "https://urgent.news/2026/08/24/uob-v-lippo-marina-collection-court-quadruples-damages-awarded-to",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T14:14:53.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/uob-v-lippo-marina-collection-court-quadruples-damages-awarded-bank-s76-1-million"
  },
  "original_language": "en",
  "account": "The Appellate Division of the High Court has quadrupled the damages awarded to UOB in its case against developer Lippo Marina Collection, raising the sum from S$17.7 million to S$76.1 million. The case concerned fraudulent inflated prices of condominium units that led to UOB disbursing higher housing loans between 2011 and 2013. Justice Woo Bih Li, who sat on the three-judge panel, found that UOB was not liable for any surplus that could have been used to pay the excess loans, as Lippo was only responsible for the excess amount. Consequently, S$35.9 million was restored to the damages award, increasing the total to S$76.1 million. This amount includes 5.33% annual interest on the additional damages from November 2014 to August 2026.",
  "summary": "The bank was deceived into disbursing higher housing loans between 2011 and 2013",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "UOB’s loan fraud damages against Lippo Marina Collection quadruple to S$76.1 million",
        "url": "https://urgent.news/2026/08/24/uobs-loan-fraud-damages-against-lippo-marina-collection-quadruple-to",
        "published": "2026-08-24T14:14:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}