You are here

OUE Lippo Healthcare receives demand for payment of S$3.4m by ex-CEO

OUE Lippo Healthcare (OUELH) announced on Wednesday morning that it received from the solicitors of the company’s former CEO and major shareholder Fan How Kin, demanding payment for about S$3.4 million in total for alleged loans owed.

This is carried out through corporate vehicle Golden Cliff International, which is wholly owned by Mr Fan.

OUELH received a letter on Jan 24 from Golden Cliff International's solicitors demanding payment of S$3.15 million for loans allegedly owed.

OUELH’s indirect wholly owned subsidiary OUELH Medical Assets also received a letter from Golden Cliff International's solicitors demanding payment for the sum of S$235,000.

Mr Fan was made a bankrupt on March 30, 2017, and is a defendant in proceedings commenced by the company for breach of fiduciary duties and unlawful conspiracy.

The company said that it is consulting legal advisers on addressing the above claims.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to