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A DIRECTOR of interior design contractor Serrano has been removed from his post after being declared bankrupt by the court, while bankruptcy proceedings for another director of the company have been postponed.
The Catalist-listed company filed a release saying the High Court had made a bankruptcy order against Chia Wing Hock, an executive director at Serrano, on Thursday. "Consequently, his office as a director of the company is vacated," it wrote.
In addition, he will also cease to be an executive director of the group with effect from Nov 17, 2016.
The bankruptcy proceedings were initiated by RHB Bank.
Another executive director, Chia Wing Keong, who is also chief executive officer of the company and brother of Mr Chia Wing Hock, is facing bankruptcy proceedings initiated by Bank of East Asia. Further proceedings have been adjourned until Dec 8.