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High Court grants bankruptcy order to Novena Global's Terence Loh - The Independent Singapore News


The Independent Singapore News
High Court grants bankruptcy order to Novena Global’s Terence Loh
Mr Loh is in debt of around S$70 million to five banks. He now has 21 days to declare assets to the private trustee of his estate, an accounting firm BDO, who could sell the assets, including private property and vehicles, to pay his creditors back.
Facebook screengrab: Novena Global Lifecare
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Singapore — The bankruptcy hearing of Terence Loh, the co-founder of Novena Global Healthcare (NGH) on Thursday (July 8) resulted in the High Court granting the order.
Mr Loh is in debt of around S$70 million to five banks. ....

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Axington facing risk of being delisted


This comes after the company notified the Singapore Exchange Securities Trading (SGX-ST) on April 1 of its cash company status according to Catalist listing rules, given that it does not currently have any “revenue-generating business”, according to an exchange filing on Tuesday.
SINGAPORE: Catalist-listed Axington, linked to the scandal-hit Loh cousins, is now a cash company and faces the risk of delisting if it does not acquire a new business within a year.
This comes after the company notified the Singapore Exchange Securities Trading (SGX-ST) on April 1 of its cash company status according to Catalist listing rules, given that it does not currently have any “revenue-generating business”, according to an exchange filing on Tuesday. ....

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