No Signboard Holdings lodges application to court amidst loan to OCBC

The firm said it sees that it will not have enough funds to repay the loan.


Restaurant operator, No Signboard Holdings, revealed that it filed an application to the Singapore High Court for OCBC as the operator faces an outstanding loan to the bank.


To recall, No Signboard and OCBC failed to come to an agreement in the repayment of the bank loan worth $3m extended by OCBC. 


No Signboard said it sees that it does not have enough funds to pay the monthly repayments of the bank loan from September 2022 until the completion of its agreement with Gazelle Ventures on 1 July.


To ensure that OCBC will not lodge legal action against No Signboard, the restaurant operator filed the application to the court to subject OCBC to a moratorium order.


“Due to the above-mentioned reasons, the Application was made for the purposes of subjecting OCBC to the terms of the Moratorium Order so that no legal proceedings can be commenced or continued by OCBC against the Company,” said No Signboard.


Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

SIT, DNV ink 3-year partnership on maritime decarbonization and digitalization
The parties will cooperate in three key areas.   The Singapore Institute of Technology (SIT) has joined hands with a maritime advisor, DNV, to advance net-zero ambitions in the Lion City’s maritime sector.


Where to invest your millions in real estate
Amongst locations, realtors suggest the Core Central Region.   Individuals seeking shelter in the real estate market amidst the rising inflation must consider three things before deciding where to invest their millions in.   George Tan, managing director of Savills Digital Residential Marketing, said one of these factors is location.    Tan said buyers should consider areas which are highly demanded and well located—easy access to prestigious or international schools, MRT, malls and food and beverage (F&B) establishments. All these will contribute to good rental demand.   PropNex realtor, Andy Lim, echoed this, adding that buyers should particularly invest in properties within one kilometre of the prestigious schools.