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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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.
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