Briton Sues Bruneian Couple Over An Investment Deal

Singapore - A Briton is seeking damages in a Singapore court from a prominent Bruneian couple and their Brunei agent for allegedly backing out of a cafe investment agreement, news reports said on Tuesday.

Businessman Mark Burby, 36, wants damages expected to run into millions of dollars on top of the 23 million Singapore dollars (US$13.5 million) the couple was supposed to invest in a chain of cafes in Britain, The Straits Times said.

Burby, a director of CBTL Holdings, entered into negotiations with Alice Koo Khin Yong, the agent for the prominent Bruneian couple in March 2001.

Under the terms of tie investment, signed by Burby and Koo, the defendants were to invest 23 million Singapore dollars (US $13.5 million).

The New Jersey and London-registered company owns the franchise rights to The Coffee Bean & Tea Leaf.

Suresh Nair, Burby's lawyer, told Justice Judith Prakash on Monday his client's investors turned out to be unreliable.

He said Koo kept misleading his client into believing the promised investment was imminent when it was not.

The defence said Burby knew the investment in the project would be made by Smart Plus International Holdings, controlled by the Bruneian couple, and not by the three defendants individually

"There is nothing to show why the three defendants should be personally liable," lawyer Roslina Baba was quoted as saying.

Nair said Smart Plus had a paid-up capital of 5.1 million Singapore dollars (US $3 million). -- Courtesy of Borneo Bulletin

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