Singapore Laguna National Golf & Country Club Owner Peter Kwee, Daughter Karen Kwee and Businessman Low Kai Yang in 3-Way Lawsuit to Determine Validity of Option-to-Purchase Agreement for 3-Storey Semi-Detached House Held by Karen Kwee
21st July 2023 | Hong Kong
Singapore Laguna National Golf & Country Club owner Peter Kwee, daughter Karen Kwee and businessman Low Kai Yang are engaged in a 3-way lawsuit to determine the validity of an Option-to-Purchase (OTP) agreement for a 3-storey semi-detached house held in the name of Karen Kwee. The house was placed under mortgagee sale in 2023 April. In 2022, Karen Kwee had been declared bankrupt. Peter Kwee’s Laguna National Golf and Country Club is currently in liquidation. Earlier in 2023 February, a Singapore High Court has granted a club member petition (Lim How Teck) to wind-up Laguna National Golf & Country Club in Singapore owned by Peter Kwee for $52.8 million (S$70.6 million) of 30-year note for redemption in 2021, with the court ruling British & Malayan Trustees in a potential conflict of interest once winding-up starts. See below for more info.
“ Singapore Laguna National Golf & Country Club Owner Peter Kwee, Daughter Karen Kwee and Businessman Low Kai Yang in 3-Way Lawsuit to Determine Validity of Option-to-Purchase Agreement for 3-Storey Semi-Detached House Held by Karen Kwee “
Singapore High Court Grants Member Petition to Wind-Up Laguna National Golf & Country Club Owned by Peter Kwee for $52.8 Million 30-Year Note for Redemption in 2021, British & Malayan Trustees in a Potential Conflict of Interest Once Winding-Up Starts
18th February 2023 – Singapore High Court has granted a club member petition (Lim How Teck) to wind-up Laguna National Golf & Country Club in Singapore owned by Peter Kwee for $52.8 million (S$70.6 million) of 30-year note for redemption in 2021, with the court ruling British & Malayan Trustees in a potential conflict of interest once winding-up starts. Singapore High Court: “The trustee is facing potential claims by some noteholders, its interest in protecting itself against such claims would conflict with its duty to protect the interests of the noteholders.” The court has also appointed Cameron Lindsay Duncan and David DongWon Kim of KordaMentha Restructuring as liquidators of Laguna National Golf & Country Club in Singapore. The club had emailed to members referring Laguna National Golf & Country Club as the old club. The new club (new company) is referred to as Laguna National Golf Resort Club.
Singapore High Court Grants Member Petition to Wind-Up Laguna National Golf & Country Club Owned by Peter Kwee for $52.8 Million 30-Year Note for Redemption in 2021, British & Malayan Trustees in a Potential Conflict of Interest Once Winding-Up Starts
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