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KPMG, which has been ordered to abandon its work for the Brunei Investment Authority, is challenging the judgment, which it claims will severely limit the number of clients which firms can represent.Last night in the City, the judgment was being interpreted as a direct challenge to the established principle of "Chinese walls" operating within firms, whereby teams are trusted to work in complete confidence for different, often competing, clients.Prince Jefri launched a legal action in the London courts last month to stop KPMG working for the BIA, since he feared the accountants could hand over personal information about him to the BIA.He alleged that KPMG's Chinese walls between the team that had worked for him and the new team working for the BIA would not work.Brunei Darussalam holds a wealth of natural richness.This is both a resource and heritage, which merits a special approach for its continued research, understanding and documentation, and presentation of its significant findings to conserve, specially protect, develop or manage.The decision to introduce sharia and reintroduce the death penalty has been condemned by NGOs and legal rights campaigners, who say the new rules will breach international laws.It has also triggered alarm among some of Brunei’s non-Muslim communities, who will also be subject to some of the rulings.
The judge accepted claims by Prince Jefri's counsel, Gordon Pollock, that KPMG faced a conflict of interest.
KPMG was hired in the summer by the Brunei Investment Agency (BIA) to conduct a thorough investigation, codenamed "Project Gemma", of the oil kingdom's finances, after suggestions that billions of state revenues have gone astray.
Prince Jefri suspects these investigations could be aimed at him.
PRINCE JEFRI of Brunei, younger brother of the Sultan of Brunei, won a shock High Court victory yesterday over the accountants KPMG, which could have profound implications for the way business is done in the City.
A High Court Judge granted Prince Jefri an injunction which upheld his claim that KPMG faced a conflict of interest in working on an investigation into the Kingdom of Brunei's finances after previously acting for Prince Jefri.