RHT Health Trust trustee-manager files court application to wind up
THE trustee-manager of RHT Health Trust (RHT) on Thursday (Aug 24) filed an application with the High Court to wind up the mainboard-listed trust.
This comes almost four years into a suspension of the securities’ trading.
In a bourse filing, the trustee-manager said it has sought an order that Victor Goh and Khor Boon Hong of Baker Tilly Consultancy (Singapore) be appointed as the joint and several liquidators of RHT.
Further announcements will be made when the application’s hearing date has been fixed, and when arrangements for unitholders to obtain copies of sealed papers in relation to the application have been made, it pointed out.
Trading of RHT’s units, last priced at S$0.019, has been suspended since Nov 28, 2019, and will continue to be suspended.
The proposed voluntary winding-up of RHT in 2019 became a long-drawn affair after India’s Supreme Court on Nov 15 found Fortis Healthcare’s founders – Malvinder Singh and Shivinder Singh – guilty of contempt of court.
Fortis had purchased RHT’s entire portfolio of healthcare assets back in January 2019. The Supreme Court judgment had stated that it is, prima facie, of the view that the disposal of RHT’s portfolio and other transactions were in wilful disobedience of the court’s order on Dec 14, 2018.
Thus, RHT’s Indian legal counsel advised the trustee-manager not to proceed with the winding-up at that time.
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