Bankruptcy estate of Nelson Loh’s ex-wife to declare interim dividend
Tay Peck Gek
THE former wife of Nelson Loh Ne-Loon has an interim dividend for payout from her estate, a private trustee in charge of her bankruptcy affair announced in a notice on Friday (Aug 4).
In the newspaper notice, the trustee from Deloitte & Touche asked creditors of the 44-year-old Lee Chai Hoon to submit their claims by Aug 18 for dividend consideration. The trustee did not state the amount of dividend for this round of distribution.
Her trustee earlier put out an intention to declare the first interim dividend in August 2022.
Lee was formerly married to Loh, the co-founder of Novena Global Healthcare Group, who has been charged with forging financial statements of the company and using them to obtain bank loans amounting to S$18 million.
She and Lynn Yeow were directors and shareholders of the now-defunct wine trading and distribution company, Giron. The two were guarantors for a loan from HSBC.
Lee was declared bankrupt upon an application by the bank for a loan of about S$3 million in April 2021, while Yeow – a well-known figure in social circles and in the public relations industry – applied for her own bankruptcy when she was sued by the bank.
Yeow’s suit from HSBC stemmed from a S$3 million debt owed by Giron, and she in turn named seven others as third-party defendants, including Loh’s cousins Terence Loh and Marjory Loh, as well as Lee.
Nelson and Terence Loh made headlines in 2020 for their reported £280 million (S$502 million) takeover bid of English Premier League club Newcastle United under Bellagraph Nova Group, but were caught out shortly after in a slew of false claims.
Terence Loh and Marjory Loh were bankrupted in July and October 2021 respectively, on the guarantees they provided to banks for Giron. The Loh siblings collectively held about 64 per cent stake in Giron as at December 2020.
Nelson Loh was adjudged a bankrupt by the Singapore High Court in late 2020, after DBS commenced bankruptcy proceedings against him in relation to some S$14.2 million in outstanding debt.
Citibank filed a notice to support DBS’ bankruptcy application, as it was also owed some US$2.7 million.
