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Secretary of State for Trade and Industry v Baker & Others

Document Cited authorities 3 Cited in Related
Pages85-89
Date01 January 1998
Published date01 January 1998
DOIhttps://doi.org/10.1108/eb024962
AuthorRichard Scott V‐C,Joanna Gray
Journal
of
Financial Regulation
and
Compliance Volume
6
Number
1
Barings: Directors' disqualification
proceedings
Secretary
of
State
for
Trade
and
Industry
v
Baker
&
Others
High Court of Justice: Chancery Division; Before the Rt. Hon. Sir Richard
Scott V-C
Date of Judgment: 1st October, 1997
Reported at: 23rd October, 1997
Times
Law Report
FACTS
This case arose from
the 1995
collapse
of
the Barings Banking Group caused
by the
enormous losses resulting from Nick
Lee-
son's unauthorised derivatives trading
in
Singapore, while general manager
of
Bar-
ings Futures (Singapore)
Ltd. The
holding
company
of the
Barings Group, Barings
plc,
and a
number
of its
subsidiaries were
placed
in
administration
as
soon
as the
scale
of
the
losses became apparent
and in
July
1995
the
administrators submitted
a
report
to
the
Secretary
of
State
for
Trade
and
Industry
as
they were bound
to do by
s.7(3)
of
the Company Directors' Disquali-
fication Act
1986
(CDDA 1986). Section
6
Journal
of
Financial Regulation
and Compliance, Vol.
6,
No.
1,
1998,
pp. 85-89
© Henry Stewart Publications,
1353-1988
Page
85

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