THE Monetary Authority of Singapore (MAS) has enlisted senior counsel Davinder Singh to advise it on the latest legal issues faced by the ill-fated Minibonds structured notes.

The central bank said last night that it had called on Mr Singh, the chief executive of Drew & Napier, 'to advise MAS on the implications of the legal issues raised by the lawyers acting in the Chapter 11 proceedings for Lehman Brothers'.

This follows Tuesday's warning by the Minibonds trustee - HSBC Institutional Trust Services Singapore - that the unwinding of the notes may be challenged by lawyers involved in bankruptcy proceedings over Lehman in the United States.

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