Creditor seeks to put Reenova under judicial management

REENOVA Investment said in a bourse filing on Wednesday (Jul 13) that one of its creditors, JW Venture Capital, has filed an application in the High Court to place the company under judicial management.

JW Venture Capital also proposed to appoint Luke Furler and Ellyn Tan of independent advisory firm Quantuma (Singapore) as as “joint and several judicial managers to manage the affairs, business and property of the company”, according to the filing.

Reenova said it currently owes JW Venture Capital a sum of approximately S$804,545.50.

The date of the hearing for the judicial management has yet been fixed by the court, while the appointment for interim judicial managers has been fixed for hearing at 10 am on Jul 15, 2022.

Trading of Reenova shares has been suspended since Oct 20, 2020.