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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
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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.
