19 Apr '17, 9am

Yves Bouvier clears legal hurdle in Singapore

Yves Bouvier clears legal hurdle in Singapore

The Swiss businessman and freeport magnate Yves Bouvier won a crucial battle in Tuesday in Singapore, where a civil court of appeal decided that the country does not have the jurisdiction to consider a lawsuit filed against him by the Russian billionaire collector Dmitry Rybolovlev. In a 59-page decision released on 18 April, the high court states that Switzerland is likely to be the appropriate forum for the case. This contradicts a March 2016 decision by a senior Singapore judge, who said Rybolovlev would suffer “grave prejudice” if the lawsuit were filed in Geneva, where his “proprietary and equitable claims” could not be recognised. Rybolovlev must now decide where he will launch a new civil claim seeking financial damages, following his criminal complaint in Monaco. The Singapore lawsuit was filed in March 2015, one month after Yves Bouvier was arrested in Monte Carlo...

Full article: http://theartnewspaper.com/news/news/yves-bouvier-clears-...

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