PR veteran Lynn Yeow declared bankrupt over debts owed by Loh cousins-linked firm

LYNN Yeow Yin Peh, well-known in social circles and in the public relations industry, has been declared bankrupt upon her own application, following her being sued by HSBC Bank for the debts of the now-defunct wine trading and distribution company, Giron, of which she was a director and shareholder.

A bankruptcy order was made against the 42-year-old on Mar 24, said the government gazette published on Friday (Apr 22).

When Yeow, an entrepreneur, was sued by the bank in January 2021 for S$3 million, she in turn named 7 others as third-party defendants, including 44-year-old Terence Loh Ne-Wei, his 39-year-old sister Marjory Loh Erchang, and Lee Chai Hoon, the ex-wife of these siblings' 41-year-old cousin Nelson Loh Ne-Loon.

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.

Yeow’s suit by the bank stemmed from the debt owed by Giron, which has since been liquidated; some of the third-party defendants were shareholders and directors of the company.

Yeow and Lee were directors and shareholders of Giron at the time the funds were drawn from banking facilities granted to it, The Straits Times reported in May 2021. Terence Loh became a director in May 2020, the same month Yeow left the firm.

In her statement against the third-party defendants, Yeow said she was a victim of an alleged fraud and that her role as a director of Giron from August 2018 to May 2020 was limited only to marketing and communications.

She told The Business Times when approached on Friday: "Bankruptcy was applied based on advice from my lawyers. There were difficulties in defending one part of the claim by the bank, and it was clear that I was not going to get any indemnity from Terence and Nelson… Therefore, bankruptcy was my only recourse."

Nelson Loh was not named as a third-party defendant by Yeow as he is a bankrupt and his whereabouts are unknown. Terence and Marjory 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 of December 2020.