Wee Soon Kim Anthony v UBS AG: Discovery of Banker's Books and Relevancy in Fraud/Negligence Claim
In Wee Soon Kim Anthony v UBS AG, the Court of Appeal of Singapore heard an appeal against the High Court's decision to grant the defendant, UBS AG, access to the plaintiff's bank records from several banks under Section 175 of the Evidence Act. Wee had filed a claim against UBS for losses incurred from foreign exchange transactions, alleging fraudulent or negligent misrepresentation, breach of contractual duty of care, and breach of fiduciary duty. UBS sought discovery of Wee's bank records to demonstrate his experience in foreign exchange transactions. The court dismissed the appeal, finding that the issue of relevancy had already been decided and that the application was not made in bad faith. The court also clarified the scope of 'banker's books' under the Evidence Act.
1. Case Overview
1.1 Court
Court of Appeal of Singapore1.2 Outcome
Appeal dismissed with costs.
1.3 Case Type
Civil
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
Appeal regarding discovery of plaintiff's bank records. Court upheld order for banks to disclose documents, finding no bad faith or non-compliance.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| UBS AG | Respondent | Corporation | Appeal dismissed | Won | |
| Wee Soon Kim Anthony | Appellant | Individual | Appeal dismissed | Lost |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Chao Hick Tin | Justice of the Court of Appeal | Yes |
| Tan Lee Meng | Judge | No |
4. Counsels
| Counsel Name | Organization |
|---|---|
| Davinder Singh | Drew & Napier LLC |
| Hri Kumar | Drew & Napier LLC |
| Goh Aik Leng | Goh Aik Leng & Partners |
4. Facts
- Wee, a customer of UBS, engaged in foreign exchange transactions through UBS and incurred substantial losses.
- Wee claimed that UBS' officers failed to give him proper advice on the transactions, particularly regarding 'swap points'.
- UBS argued that Wee was an experienced investor who understood 'swap points'.
- UBS sought discovery of Wee's bank records to show his experience in foreign exchange transactions.
- Wee stated he could not comply with the discovery order because he had misplaced his bank records.
- UBS applied for an order under s 175 of the Evidence Act to authorize the banks to release the requested documents.
5. Formal Citations
- Wee Soon Kim Anthony v UBS AG, CA 75/2002, [2003] SGCA 5
6. Timeline
| Date | Event |
|---|---|
| UBS filed summons-in-chambers No. 429/2002 seeking discovery of documents. | |
| Trial commenced before Kan J. | |
| Wee objected to the production of documents ordered in SIC 429. | |
| UBS sought to have Bangkok Bank, DBS and ABN Amro produce documents through writs of Subpoena. | |
| UBS made an application by Summons-in-Chambers No. 1595/2002 asking that, pursuant to s 175 of the Evidence Act, Bangkok Bank, ABN Amro, Citibank and DBS should disclose documents. | |
| Decision Date |
7. Legal Issues
- Discovery of Banker's Books
- Outcome: The court upheld the order for the banks to disclose documents, finding that the documents fell within the scope of 'bankers' books' and that the requirements of the Evidence Act were met.
- Category: Procedural
- Sub-Issues:
- Relevancy of documents
- Compliance with Part IV of the Evidence Act
- Scope of 'bankers' books'
- Relevancy of Evidence
- Outcome: The court held that the issue of relevancy was already decided in a prior application and could not be re-litigated.
- Category: Substantive
8. Remedies Sought
- Monetary Damages
9. Cause of Actions
- Fraudulent Misrepresentation
- Negligent Misrepresentation
- Breach of Contractual Duty of Care
- Breach of Fiduciary Duty
10. Practice Areas
- Commercial Litigation
- Banking
- Discovery
11. Industries
- Banking
- Finance
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| Sir William Randolph Douglas v Sir Lynden Oscar Pindling | Privy Council | Yes | [1996] AC 890 | Bahamas | Cited to elucidate the purpose of Part IV of the Evidence Act, which is to relieve bankers of the necessity of attending court with their books. |
| Pollock v Garle | Court of Appeal | Yes | [1898] 1 CH 1 | United Kingdom | Cited to explain the purpose of the Bankers’ Books Evidence Acts, which is to protect bankers from the inconvenience of producing books in court. |
| South Staffordshire Tramways Co v Ebbsmith | Court of Appeal | Yes | [1895] 2 QB 669 | United Kingdom | Cited for the principle that an order for inspection of bank documents would only be made if the litigant was entitled to the information under his right to discovery. |
| R v Bono | N/A | Yes | [1913] 29 TLR 635 | N/A | Cited for the principle that the Bankers’ Books Evidence Act was not intended to accord to a litigant greater facilities for discovery than what would be allowed under normal discovery principles. |
| Parnell v Wood & Anor | N/A | Yes | [1892] 17 PD 137 | N/A | Cited by the appellant to argue that the application was a fishing expedition, but distinguished by the court due to different circumstances. |
| Barker v Wilson | Queen’s Bench Divisional Court | Yes | [1980] 1 WLR 884 | United Kingdom | Cited for the view that the term 'bankers’ books' should be construed in relation to the practice of bankers as then understood and includes any form of permanent record kept by the bank. |
| Williams v Williams | Court of Appeal | Yes | [1988] 1 QB 161 | United Kingdom | Cited to determine that to constitute a 'record' or 'books' within the meaning of 'banker’s books', the documents must be properly sorted and filed. |
| R v Peter Dadson | Court of Appeal | Yes | [1983] 77 Cr App Rep 91 | United Kingdom | Cited by the appellant to argue that correspondence and facility letters are not bankers’ books, but distinguished by the court. |
| Re Howglen Ltd | N/A | Yes | [2001] 1 All ER 376 | N/A | Cited to contrast records with notes taken by bank officers of meetings with customers, which are not considered entries in books kept by the bank. |
13. Applicable Rules
| Rule Name |
|---|
| No applicable rules |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| Evidence Act (Cap 97, 1997 Rev Ed) Part IV | Singapore |
| Evidence Act (Cap 97, 1997 Rev Ed) s 170 | Singapore |
| Evidence Act (Cap 97, 1997 Rev Ed) s 174 | Singapore |
| Evidence Act (Cap 97, 1997 Rev Ed) s 175 | Singapore |
| Evidence Act (Cap 97, 1997 Rev Ed) s 176(1) | Singapore |
15. Key Terms and Keywords
15.1 Key Terms
- Banker's Books
- Discovery
- Relevancy
- Swap Points
- Foreign Exchange Transactions
- Special Cause
- Issue Estoppel
15.2 Keywords
- Banker's Books
- Discovery
- Evidence Act
- Foreign Exchange
- UBS
- Singapore
- Banking Secrecy
17. Areas of Law
| Area Name | Relevance Score |
|---|---|
| Banker's Books | 85 |
| Evidence Law | 80 |
| Banking Law | 75 |
| Civil Procedure | 65 |
| Contract Law | 50 |
| Fiduciary Duties | 40 |
| Collections | 30 |
16. Subjects
- Banking
- Evidence
- Civil Procedure