City Harvest to write off $26.5m debt by former member Chew Eng Han and his firm

In 2014, the church sued Chew Eng Han (left) and AMAC Capital Partners for investments that were not returned to it.
In 2014, the church sued Chew Eng Han (above) and AMAC Capital Partners for investments that were not returned to it.

It decides to stop efforts to recover sum from ex-fund manager Chew Eng Han and his firm

City Harvest Church has decided to write off a $26.5 million debt owed by its former fund manager Chew Eng Han and his investment firm AMAC Capital Partners.

The church, in 2014, had sued Chew and AMAC for investments that were not returned to the church but decided to stop all efforts to recover the money and give up all rights to the sum after an extraordinary general meeting on July 23 this year, when its executive members voted on the issue.

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A version of this article appeared in the print edition of The Straits Times on August 24, 2019, with the headline 'City Harvest to write off $26.5m debt owed to it'. Print Edition | Subscribe