The Business Times
business-time-50

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

Summarise
google-preferred-sourceAdd BT as a preferred source
Tay Peck Gek

Tay Peck Gek

Published Wed, Feb 5, 2025 · 05:00 AM
    • Peter Kwee holds 60% of Group Exklusiv's shares; the company is the owner of Laguna Golf Resort Holding, which acquired Laguna National Golf and Country Club in 2001.
    • Peter Kwee holds 60% of Group Exklusiv's shares; the company is the owner of Laguna Golf Resort Holding, which acquired Laguna National Golf and Country Club in 2001. PHOTO: BT FILE

    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.

    Peter KweeLiquidation

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More