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
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
As luxury retail goes big, can Singapore’s Orchard Road keep up?
