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Loyz Energy, lender in row over S$4m loan

Lender is claiming payment as a proposed note subscription falls through; Loyz says loan, note issue separate matters

Published Fri, Sep 19, 2014 · 04:00 PM

Singapore

A LEGAL tussle appears to be brewing between Singapore-listed oil and gas company Loyz Energy and Advance Capital Partners over a S$4 million loan.

In an announcement to the Singapore Exchange (SGX) on Friday, Loyz Energy said the company had on Sept 10 been served a writ of summons issued by plaintiff Advance Capital Partners claiming that Loyz Energy had failed to repay a S$4 million loan. Loyz Energy said that it considers the claim to be without merit.

Then in a subsequent announcement to the SGX, also o…

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