Laguna National Club owes creditors S$69.7 million; assets far short of sums owed

HUNDREDS of noteholders and other creditors are owed S$69.7 million by Laguna National Golf and Country Club, which is currently in liquidation.

The club has only S$699,433.05 in estimated realisable assets, or 1 per cent of its debts, The Business Times has learnt. 

On Tuesday (Jul 18), a creditors’ meeting was held to provide an update on the liquidation process and to appoint a committee of inspection to represent the interests of creditors.