High Court rejects application for open trial on S'pore's US$4b loan to IMF

[silentisgolden]

High Court rejects application for open trial on S'pore's US$4b loan to IMF



SINGAPORE: The High Court has rejected Mr Kenneth Jeyaretnam's application for an open trial on the legality of Singapore's US$4 billion loan to the International Monetary Fund.

Mr Jeyaretnam's lawyer Louis Joseph told reporters that Justice Tan Lee Meng, who heard the trial in chambers on Thursday, said matters that were pure legal issues are usually heard in chambers.

However, Mr Jeyaretnam's application to sit in the chambers hearing was granted.

In his submissions, Mr Jeyaretnam asked Justice Tan to quash the Monetary Authority of Singapore's decision to pledge the loan as it was unconstitutional.

Even if successful, Mr Jeyaretnam has requested the Justice to declare the legality of the move.

Judgment for that has been reserved.

-CNA/ac