UOB appoints receivers of Libra Group's mortgaged property in Loyang
Three individuals have been named as joint receivers.
Libra Group announced that UOB has appointed Bob Yap Cheng Ghee, Wong Pheng Cheong Martin, and Toh Ai Ling on 4 November 2019 to be the joint and several receivers of the mortgaged property of the company located at 53 Loyang Drive Singapore 508957.
The company will currently take advice from legal advisers on the next steps considering its options with regard to the said appointment.
The Loyang property was specifically carved out from the company’s 211B Moratorium Application and hence the moratorium protection granted by the High Court of Singapore on 14 October 2019 from legal proceedings and enforcement actions by creditors for a period of six months from that date is not affected, said the announcement.