DBS wins bankruptcy bid on Nelson Loh in relation to S$14m loan
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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.
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