honestbee chairman Brian Koo looms large in startup's revamp bid

Singapore

AS HONESTBEE seeks court protection to restructure some US$209 million worth of debt, questions remain about whether its key backer and chairman Brian Koo holds all the cards, or if minority creditors will have more of a say in the outcome.

The grocery delivery startup had taken US$4 million in loans from two funds under Mr Koo's venture firm Formation Group this year that were secured by charges over all of honestbee's assets.