It was a nusaince. That’s how Emeritus Professor Kenneth Julien described the legal battle he’s been engaged in with the State for the past eight years. “Nevertheless, it’s now a relief that it’s now over,” said the 87 year-old Julien. Last month, the board of state-owned Evolving Technologies and Enterprise Development Company Limited (eTeck) decided to discontinue its negligence case against its former board, then chaired by Julien.
One week before the trial was set to begin, eTeck opted not to continue with the case “based on legal advice” it obtained from James Guthrie QC. The action was initiated by former Attorney General Anand Ramlogan in 2011. The State had alleged that the board entered into a US$5 million equity investment in a Hong Kong-based company Bamboo Networks Ltd (BNL) between January 18 and May 17, 2005, without carrying out a due diligence exercise into the company’s financial records beforehand.