The Straits Times
Novena Global Healthcare s Terence Loh has $70 million debt, seeks interim order to stave off bankruptcy
Novena Global Healthcare co-founder Terence Loh has applied for an interim order in a last-ditch attempt to stave off bankruptcy.PHOTO: TERENCE LOH
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SINGAPORE - A lack of funds at Novu Aesthetics, a chain of clinics run under a subsidiary of the troubled Novena Global Healthcare (NGH) co-founded by Singaporean cousins Nelson and Terence Loh, has led to doctors being taken off the roster, some staff left unpaid, and patients unable to book treatments.
Two of its six clinics, at Raffles City and Northpoint mall, have also permanently shuttered, The Straits Times has confirmed.
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SINGAPORE (THE BUSINESS TIMES) - Bank of America (BOA) has filed a motion to dismiss the Chapter 11 cases of Eagle Hospitality Real Estate Investment Trust (EH-Reit) and Eagle Hospitality Trust (EHT) Singapore entities Eagle Hospitality Trust S1 and Eagle Hospitality Trust S2.
BOA is the administrative agent of EH-Reit s US$341 million (S$454 million) prepetition syndicated credit agreement, the trustee of EHT said on Tuesday (March 1) in a bourse filing.
BOA s move comes as the US bankruptcy court approves a US$100 million debtor-in-possession (DIP) term loan facility with Monarch Alternative Capital.
The court approval allows entities of EHT which have filed for Chapter 11 bankruptcy in the US, including EH-Reit, to borrow up to US$100 million for use under an approved budget. This amount can be increased up to US$125 million under certain conditions.
The Straits Times
Hin Leong judicial managers file to wind up collapsed oil trader
Singaporean tycoon Lim Oon Kuin and his children racked up some US$4 billion in debt and entered court restructuring.PHOTO: ST FILE
UpdatedFeb 24, 2021, 1:28 pm
PublishedFeb 24, 2021, 12:43 pm SGT
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