Ascent Bridge CEO liaising to end bankruptcy application against him
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Sharanya Pillai
SUN Quan, the chairman and chief executive of Ascent Bridge , is liaising for a bankruptcy application against him to be withdrawn or discontinued, the company announced in a Friday (Mar 31) bourse filing.
Ascent Bridge previously disclosed that a bankruptcy application was filed on Mar 2 against Sun, arising from his guaranteed repayment of a loan made to one of his wholly-owned companies. The company in question is not an Ascent Bridge subsidiary.
On Mar 30, Sun notified Ascent Bridge that he had fully settled the outstanding amount due to the applicant of the bankruptcy application, the company said in its Friday filing. He is now liaising with the claimant lawyer.
Shares of Ascent Bridge closed flat at S$0.55 on Friday.
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