12 lawsuits and a liquidation later, legal brawls continue for Hearti Lab’s founder

AT 3pm on Jan 28, 2022, stony-faced creditors of Singapore-based Hearti Lab dialled into a Zoom call with its founder Keith Lim and liquidators and learnt about the insurtech company’s winding-up plans.

The announcement shocked Hearti Lab’s trade creditors and investors, who included seasoned entrepreneurs and the CEOs of publicly-listed companies.

Hearti Lab owed debts of over S$2.5 million. An email from liquidators said that while Hearti Lab “is not denying liabilities,” it “has minimal assets” and is unlikely to “pay any of the creditors.”