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