Forklift-owning prince’s legal woes end

News Story
- 16 Feb 2006 ( #247 ) - LONDON, United Kingdom
1 min read
Sultan Hassanal Bolkiah
Sultan Hassanal Bolkiah
A fleet of forklifts was among assets involved in a legal stoush between the Sultan of Brunei and his younger brother.

The five-year legal battle launched by the Sultan against his brother has now ended after the Sultan admitted defeat in a contempt action that could have seen his brother jailed.

According to The Times, Prince Jefri Bolkiah, 51, had been accused by Sultan Hassanal, 59, of embezzling GBP8 billion (USD13.9 billion) from the Brunei Investment Authority (BIA) during his 13-year tenure as Brunei's finance minister.

In May 2000, the dispute was initially resolved by an out-of-court settlement. Prince Jefri agreed to hand over GBP3 billion (USD5.2 billion) from assets sold during a four-day auction in London in 2001.

The assets, stored in 21 warehouses, included 400 Victorian lamp posts, two unused Mercedes-Benz fire engines, 16,000 tonnes of Italian marble and a fleet of forklifts.

However, the Sultan launched new court proceedings in London, where the prince spends most of his time, because the prince was still leading an extravagant lifestyle.

The Sultan and BIA wanted the prince to disclose the full scale of his wealth. The five-year legal battle had cost the Sultan GBP1 million (USD1.7 million) in fees.

A Reuters News report said BIA would not rule out fresh contempt proceedings if new evidence arose.
Do you have materials handling news? Submit your news here

PREMIUM business

BSL New Energy Technology Co., Ltd
BSLBATT - practical expertise and excellent design in the industrial lithium-ion battery market.

Even the heaviest lifts must be easy to handle. That’s why N.C. Nielsen raises the bar in lifting capacity, maneuverability, operator comfort, flexibility and technical capabilities.
Heavy duty reach stackers – lifting capacity from 85 to 180 tons.
VIEW ALL OUR CUSTOM-BUILT HEAVY DUTY REACH STACKERS

Contact us now: +45 99 83 83 83 - www.nc-nielsen.com

Words of support …

At Linde Material Handling, we appreciate Forkliftaction for its competent and informative reporting and its global perspective. Forkliftaction is one of the few industry media with a transnational readership.

Heike Oder, Head of Trade Press

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Even the heaviest lifts must be easy to handle. That’s why N.C. Nielsen raises the bar in lifting capacity, maneuverability, operator comfort, flexibility and technical capabilities.
Heavy duty reach stackers – lifting capacity from 85 to 180 tons.
VIEW ALL OUR CUSTOM-BUILT HEAVY DUTY REACH STACKERS

Contact us now: +45 99 83 83 83 - www.nc-nielsen.com

Inside The News
While innovation and new technology are evolving at what seems to be an ever-increasing pace, the need to capture the data (telemetry) from this tech, and the ability to utilise it (telematics) for efficiency and cost savings, is one area attracting more and more attention ... Continue reading

PREMIUM business

Zhejiang UN Forklift Co., Ltd
Manufacturer of IC forklifts, electric forklifts and warehouse equipment.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Even the heaviest lifts must be easy to handle. That’s why N.C. Nielsen raises the bar in lifting capacity, maneuverability, operator comfort, flexibility and technical capabilities.
Heavy duty reach stackers – lifting capacity from 85 to 180 tons.
VIEW ALL OUR CUSTOM-BUILT HEAVY DUTY REACH STACKERS

Contact us now: +45 99 83 83 83 - www.nc-nielsen.com