Laguna National club owner Peter Kwee and daughter Karen embroiled in property lawsuit
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A BUKIT Timah property previously held under the name of the daughter of motoring tycoon and Laguna National club owner Peter Kwee is now the subject of a three-way tussle, The Business Times (BT) has learnt.
The lawsuit will determine whether an alleged agreement involving an option to purchase (OTP) issued for the three-storey semi-detached house by Kwee’s daughter, Karen, is valid and binding. The action was filed before what is believed to be a mortgagee sale of the property in April 2023, after Karen was declared bankrupt in 2022. It is unclear why she was declared bankrupt.
Businessman Low Kai Yang, who described himself as a “former friend” of Karen, claimed that the property was used to secure an S$800,000 loan he agreed to lend to her.
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