Terence Loh seeks interim order in bid to stave off bankruptcy

Novena Global Healthcare co-founder said to have outstanding debt of $70m with 5 banks

An interim order would effectively act as a stay on all legal action against Novena Global Healthcare co-founder Terence Loh while he seeks to enter into a voluntary arrangement with his creditors - including Maybank, Citibank, Standard Chartered Ban
An interim order would effectively act as a stay on all legal action against Novena Global Healthcare co-founder Terence Loh while he seeks to enter into a voluntary arrangement with his creditors - including Maybank, Citibank, Standard Chartered Bank, DBS Bank and UOB - to repay them.PHOTO: TERENCE LOH

Novena Global Healthcare (NGH) co-founder Terence Loh has applied for an interim order in a last-ditch attempt to stave off bankruptcy.

The Straits Times understands that Mr Loh, 43, has total outstanding debt of about $70 million with five banks stemming from personal guarantees for the loans held by NGH.

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A version of this article appeared in the print edition of The Straits Times on April 30, 2021, with the headline 'Terence Loh seeks interim order in bid to stave off bankruptcy'. Subscribe