Jason Holdings served with winding-up application by ANZ

SINGAPORE - Timber flooring firm Jason Holdings was served a winding-up application by Australia and New Zealand Banking Group (ANZ) on Nov 14.

The application is fixed for hearing on Dec 2 in the Singapore High Court, Jason Holdings said in a filing with the Singapore Exchange on Wednesday (Nov 16).

ANZ has proposed to appoint as liquidator Chan Yee Hong from Nexia TS Risk Advisory Pte Ltd.

The application comes after the Catalist-listed company received a statutory demand from ANZ for S$1.74 million due and owing by the company as guarantor for banking facilities to its subsidiary, Jason Parquet Specialist (Singapore) Pte Ltd.

But after more than 21 days since that demand, Jason Holdings "has failed and/or neglected to pay or satisfy in full (or any part of) the demanded sums, or make any offer to ANZ to secure or compound the same or any part thereof", said the filing.