If that the case then they were the victims of fraud and the Maybank will be liable, as to this point in time I have not heard the company make such a claim, have you?
If they had a genuine irrevocable undertaking from the Maybank trust me they would be shouting it form the roof tops.
If they were given a fake irrevocable undertaking, who gave it to them sandstone? they claim to not have contact with the asain investors, is sandstone liable are they planning to purse them for criminal and civil charges?
How did they verify this was legitimate before announcing it? Did the speak to the Maybank at all? Did they pick up the phone to make a call to ask for confirmation of the documentation?
Also you say if the Maybank didn't deliver they actually don't have a choice that the whole point of the irrevocable undertaking, notice the use of the word "irrevocable".
To many unanswered questions here, this needs alot further investigation.
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