Magnus Energy Chief Sued by Broker Over Stock Rout
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A Deutsche Bank AG brokerage sued the managing director of Magnus Energy Group Ltd. in Singapore to recover an unpaid trading debt.
Lim Kuan Yew owed DMG & Partners Securities Pte S$1.77 million ($1.4 million) for Blumont Group Ltd. and Asiasons Capital Ltd. shares bought in October, according to a lawsuit with the Singapore High Court. Singapore trading rules allow investors three days to pay for their stock purchases.