Libra applies for court protection; creditors seek S$9.3m, property

Singapore

CATALIST-LISTED Libra Group has applied to the High Court for a six-month debt moratorium, as it faces claims from creditors for some S$9.3 million in repayments and possession of a property at 34 Sungei Kadut Loop.

In a bourse filing on Tuesday, Libra said that it has applied for the debt stay under Section 211B of the Companies Act. Libra now has an interim debt moratorium of up to a month, before the Court decides on its application.