Ng Yu Zhi’s liquidated company to pay all GST arrears, and 60% of valid unsecured claims

THE proceeds from the liquidation of a company belonging to alleged nickel trading scammer Ng Yu Zhi will go towards paying the Comptroller of Goods and Services Tax in full, and satisfy 60 per cent of the admitted unsecured claims in initial dividends.

In a newspaper notice on Tuesday (Jul 18), a liquidator for Envy Strategic Holdings, Toh Ai Ling, announced that 100 per cent of admitted preferential claims and 60 per cent of all valid claims without security will get paid on Jul 25.

It will be the first and final payment to the preferential creditor, and the first interim payout to unsecured creditors.