Court of Appeal

Rabobank wins Singapore appeal in Motorola contract payment dispute

Rabobank International won a S$5.2 million ($4 million) award in a contract dispute with the Singapore unit of Motorola Inc., a U.S. mobile phone maker.

The Singapore Court of Appeal overturned an earlier ruling that said the bank wasn't entitled to payments from Motorola, according to a decision released publicly today.

Rabobank, based in the Netherlands, sued Motorola Electronics Pte, claiming under its contracts it was entitled to money Jurong Technologies Industrial Corp. owed Motorola. Jurong is under judicial management, the equivalent of bankruptcy protection.

Rabobank rejected an offer from Motorola to settle the case a week before the appeal hearings started in January, according to the ruling.

The case is Cooperatieve Centrale Raiffeisen-Boerenleenbank BA vs. Motorola Electronics Pte CA52/2010 in the Singapore Court of Appeal.

(Published by Bloomberg - December 14, 2010)

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