By Jng Ying | Posted: 20 October 2010 1624 hrs
SINGAPORE: The Court of Appeal ruled on
Wednesday that OCBC bank had acted reasonably
in not taking instructions from its elderly customer who suffered
from Alzheimer’s.
Madam Hwang Cheng Tsu, 94, had S$8.9 million in her accounts and
the bank had refused to accept instructions from her after finding
her unfit.
The bank later froze her accounts in August 2008.
The High Court had earlier ruled OCBC had
not breached its duties to Madam Hwang but her adopted daughter, Ms
Amy Hsu Ann Mei, appealed against its decision.
Dismissing that appeal, Chief Justice Chan Sek Keong said that
OCBC bank had found that Madam Hwang, who has
since died, was not fit to give instructions.
Chief Justice Chan said that this case had been blown out of
proportion and could have been better handled.
He added that the court also found no evidence that Ms Hsu was
unfilial.
Separately, the High Court on Monday had granted Ms Hsu the
probate to the will which will see her receiving bequeathed assets
worth more than S$12 million.
- CNA/ir