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Valid claims against Jannie Chan’s bankruptcy estate balloon by S$18.9 million

Justice Aidan Xu also dismisses her application to set aside the S$4.3 million in claims from SME Care that the private trustee has accepted as valid

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Tay Peck Gek

Tay Peck Gek

Published Thu, Feb 20, 2025 · 09:40 PM
    • Jannie Chan also failed in her challenge of the validity of two other sums amounting to S$2.6 million.
    • Jannie Chan also failed in her challenge of the validity of two other sums amounting to S$2.6 million. PHOTO: BT FILE

    THE valid claims against high-society figure Jannie Chan have risen by S$18.9 million, after the High Court on Wednesday (Feb 19) accepted a creditor’s previously rejected debts.

    Chan, the co-founder of mainboard-listed luxury timepiece retailer The Hour Glass , was declared bankrupt in 2019.

    The loan that she had guaranteed for JASC – one of the firms where she was the sole director and shareholder – was overdue. It landed her in bankruptcy when the licensed moneylender SME Care sought to have her honour the guarantee.

    Bankruptcy

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