Peter Kwee, son and firm sued for over S$71 million over insolvency of Laguna club operator
The defendants are said to have been behind a fraudulent scheme against the insolvent firm, enriching themselves by extracting and transferring value from it
[SINGAPORE] Motoring tycoon Peter Kwee has been sued – along with his 55-year-old son Kevin and their firm Laguna Hotel Holdings – for allegedly wrongfully and fraudulently extracting and transferring value out of Laguna National Golf and Country Club to enrich themselves.
For their alleged wrongdoing including the Kwees’ breach of fiduciary duties, Laguna National Golf and Country Club and its two liquidators Cameron Duncan and David Kim launched a lawsuit in April against the three parties, seeking recourse and more than S$71.5 million in damages.
Laguna National Golf and Country Club was the operator and owner of the eponymous club, which had a pair of 18-hole golf courses. The firm ceased operating the club upon handing over its assets in 2021 to Laguna Hotel, the Kwees’ other company and current owner-operator of the Laguna National Golf Resort Club.
Copyright SPH Media. All rights reserved.
