IHC clarifies lenders' receivership of its Australian properties
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Singapore
CATALIST-LISTED medical property developer International Healthway Corporation (IHC) says the appointment of receivers by its two Australian bank lenders - Westpac and National Australia Bank (NAB) - for its three properties in Australia is a consequence of the disputed appointment of receivers by Crest Fund.
In a statement issued to the Singapore Exchange (SGX) as clarification of a Sept 10 article in TheStraits Times (ST), IHC said Crest Fund's appointed receivers had "lodged unlawful caveats over three Australian properties", which caused alarm among the two Australian bank lenders. The caveats were voluntarily and unconditionally withdrawn on July 13 "as there was no legal basis" for their lodgement, IHC said in its SGX filing before trading hours on Friday.
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