Few months ago, a Taiwanese man was ordered by court to pay the US$9.7 million gambling debts he incurred in Macau (viewtopic.php?f=1&t=47956), today a Japanese businessman has been ordered to pay off his $2 million casino debt to Singapore’s Marina Bay Sands (MBS)
According to The Straits Times, Shinichi Takami, 45, managing director of Avixs Master Fund Pte Ltd in Singapore, reportedly lost $2 million within 10 hours while gambling in the Singaporean casino on April last year. MBS subsequently brought Mr Takami to court and requested for the High Court to pass a summary judgement on the case on the grounds that Mr Takami has no real or valid defence against its claim.
Singapore’s Marina Bay Sands
Takami’s lawyer Sunil Singh Panoo said his client has not issued any instructions to appeal against the decision, and argued that his $2 million debt is not enforceable because Mr Takami was not a premium player before he began gambling at the casino on June 25, 2010. He claimed he was made to sign documents that he didnt fully understand as he cannot read English and the documents werent explained to him.
MBS’ lawyers argued that Mr Takami was a seasoned high-stakes gambler and had settled loans issued to him before. The court ruled in favor of MBS, who says it still has more than 40 lawsuits to go to recover debts owed by patrons, the majority of which are believed to be Malaysians.
Source:
http://www.straitstimes.com/BreakingNew … 89579.html
