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honestbee applies for court protection; eyes conversion of over US$180m debt into equity

New CEO's first order of business: To protect the company from its creditors

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honestbee CEO Ong Lay Ann says he expects the company will emerge from the restructuring incurring minimal debt; it would have only ongoing liabilities from the usual course of business.

Singapore

THERE is no quick fix for restructuring the more than US$180 million honestbee owes its creditors, but a massive debt-to-equity conversion could be its best bet, the startup's chief executive Ong Lay Ann told The Business Times on Friday.

Three weeks into the job, he has...

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