For subscribers
Terence Loh declared bankrupt after 'white knight' plan abandoned
Novena Global Healthcare co-founder had tried for voluntary arrangement with creditors
Sign up now: Get ST's newsletters delivered to your inbox
Cousins Terence Loh (standing) and Nelson Loh made news last August with a £280 million (S$522 million) takeover bid for English Premier League football club Newcastle United under the Bellagraph Nova Group, which they founded with Chinese entrepreneur Evangeline Shen. Since then, firms linked to them have come under intense scrutiny. PHOTO: NOVENA GLOBAL LIFECARE
Novena Global Healthcare (NGH) co-founder Terence Loh was declared bankrupt yesterday after his "white knight" plan was abandoned.
Mr Loh, 43, who has total outstanding debts of about $70 million with five banks stemming from personal guarantees for the loans held by NGH, had tried to enter into a voluntary arrangement with his creditors to repay them.
