Peter Kwee could be sued over Laguna club’s financials: liquidators
Claims could include those for breach of directors’ duty, clawback of assets disposed of at undervalue and clawback of debts paid or assets disposed of by unfair preference
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THE liquidators of the insolvent Laguna National Golf and Country Club have secured litigation funding, paving the way for any potential lawsuit against its owner and motoring tycoon Peter Kwee.
Laguna National Golf and Country Club previously owned the former eponymous club, which is now known as the Laguna National Golf Resort Club.
Laguna National Golf and Country Club was wound up in February 2023, upon the application by pioneer club member and bondholder creditor Lim How Teck. Lim and 580 fellow holders of unsecured notes are owed an estimated S$187.4 million as the club had defaulted on the bonds when they matured on Jun 11, 2021.
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