IHC clarifies lenders' receivership of its Australian properties

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…