Golf: Laguna National to delay $120,000 payment to debenture holders 'due to our financial position'

Laguna National, located a 10-minute drive from Changi Airport, first opened in 1991.
Laguna National, located a 10-minute drive from Changi Airport, first opened in 1991.PHOTO: LIANHE ZAOBAO

SINGAPORE - A potential legal dispute involving tens of millions of dollars appears on the horizon at Laguna National after the golf and country club's owner Peter Kwee informed the debenture holders that the redemption of their unsecured notes will be delayed.

In a letter dated June 10 and signed by Mr Kwee, it acknowledges that as part of the trust deed, the 30-year-old notes were due for redemption on June 11 but the club is unable to do so "due to our financial position".

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