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The expectations that the 2000 APEC Summit would help to bring in foreign investments to spur economic development did not materialize. The meeting was indeed overshadowed by the Amedeo case. The Amedeo Development Corporation (ADC) headed by His Royal Highess (HRH) Prince Jefri Bolkiah, the youngest brother of HM the Sultan, went into liquidation in 1998 after spending B$5 billion on various projects and leaving B$1 billion of debts to 300 creditors. A court action against the prince by the Brunei Investment Agency (BIA) and the Government of Brunei for alleged misuse of state funds estimated at US$15 billion had been settled out of court in 1998. As part of the settlement, the prince undertook to return all the money and assets he had allegedly taken from the state when he was the head of BIA and Finance Minister. On the other hand, when no settlement could be reached between the ADC and its creditors, the liquidators,...