GIP venture fund under judicial management

'Significant insolvency risk' as early as Dec 2017, court heard

A venture fund approved under the Government's Global Investor Programme (GIP) has been placed under judicial management after a court ruled it was unable to pay its debts.

Judicial management is a method of debt restructuring for firms under financial distress and this is believed to be the first time a GIP fund has found itself in such a predicament.

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A version of this article appeared in the print edition of The Straits Times on July 16, 2019, with the headline 'GIP venture fund under judicial management'. Print Edition | Subscribe