KPMG case will turn on Lehman JV agreement

Author: | Published: 1 Dec 2009
The police’s involvement has not surprised those working in Thailand

According to reports, Destination Properties alleges that certain assets held by the JV were sold off by the liquidators when they should have become property of Destination because Lehman had breached its investment obligations. IFLR sources say Destination has applied for an injunction against the sale, which has been adjourned to allow the liquidators to present their case.

The injunction, and the police investigation, is likely to focus on the substance of the joint venture...