DBS wins bankruptcy bid on Nelson Loh in relation to S$14m loan
Add BT as a preferred source
FAILED businessman Nelson Loh was adjudged a bankrupt by the Singapore High Court last month, after DBS Bank commenced bankruptcy proceedings against him in relation to some S$14.2 million in outstanding debts, court documents revealed.
Another creditor, Citibank NA, which filed a notice that it supported DBS' bankruptcy application, is also owed some US$2.7 million by Mr Loh, court documents also showed.
He, the co-founder of Bellagraph Nova, had stood as guarantor to secure two facilities from DBS for entities linked to him. Bellagraph Nova had launched a £280 million (S$509.5 million) bid for the Newcastle United football club last year and was shortly after caught out in a slew of false claims.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Singapore developer in limbo after Timor-Leste scraps major township project
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
Gojek founder Nadiem Makarim faces 18-year jail demand in Indonesia laptop graft trial
