DBS gets High Court's approval to wind up Novena Global Healthcare
Bank owed over $14m; liquidator says court order doesn't relate to other entities or units
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Cousins Nelson Loh (left) and Terence Loh, who co-founded Novena Global Healthcare, made news in August with a £280 million (S$493 million) takeover bid for English Premier League football club Newcastle United. The bid was made under the Bellagraph Nova Group, which they founded with Chinese entrepreneur Evangeline Shen in July.
ST FILE PHOTO
Joyce Lim Senior Business Correspondent, Joyce Lim
The High Court has granted an application from DBS Bank to wind up Novena Global Healthcare, which owes the bank more than $14 million.
DBS' lawyers told the court yesterday that Novena Global Healthcare had not been in touch with it and it would proceed to wind up the company.