Telemedia Pacific Group sought to recover 225 million shares in Singapore-listed firm Next Generation Satellite Communications from the bank. Telemedia said the Swiss bank had wrongfully transferred these shares to a third party, the report said.

Judicial Commissioner George Wei said in a judgment issued in November that he preferred the evidence of the bank and the alleged third party, Jack Yeh. The dispute centred on whether Yeh was "singly" authorised to give instructions regarding Telemedia's account with the bank.

Telemedia, controlled by Indonesian businessman Hady Hartanto, alleged that the bank had wrongfully handed account-opening forms he had signed on behalf of the company to Yeh, his Taiwanese business partner.

This allegedly allowed Yeh to include his name as an authorised signatory for Telemedia's account without Mr Hartanto's knowledge and consent, the report continued. This in turn led to an allegedly unauthorised withdrawal of the 225 million NexGen shares by Yeh in October 2011. The court, however, found that Yeh was a "singly authorised signatory" to the Telemedia account - meaning he could operate the account individually - with the knowledge and consent of Hartanto.