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Co-founder of Singapore $840 Million Luxury Watch Retail Chain The Hour Glass Jannie Chan Siew Lee Bankruptcy Claims Increased to $17.3 Million (S$23.2 Million) after Singapore Court Accepted Previously Rejected Claim of S$18.9 Million from Fulcrum Distressed Partners (Took Over Debt from Original Creditor Timor Global), Jannie Chan was Declared Bankrupt in 2019 for Overdue Loan in Her Firm JASC to Licensed Moneylender SME Care, Jannie Chan Co-founded The Hour Glass with ex-Husband Henry Tay in 1979, Sentenced to 2 Weeks Jail in Singapore in 2019 for Contempt of Court
22nd February 2025 | Hong Kong
The co-founder of Singapore luxury watch retail chain The Hour Glass ($840 million market value) Jannie Chan Siew Lee bankruptcy claims has increased to $17.3 million (S$23.2 million) after a Singapore court accepted previously rejected claim of S$18.9 million from Fulcrum Distressed Partners (Took over debt from original creditor Timor Global). In 2019, Jannie Chan was declared bankrupt for overdue loan in her firm JASC to licensed moneylender SME Care. Jannie Chan co-founded The Hour Glass with ex-husband Henry Tay in 1979. In 2019, Jannie Chan was sentenced to 2 weeks jail in Singapore for contempt of court.
“ Co-founder of Singapore $840 Million Luxury Watch Retail Chain The Hour Glass Jannie Chan Siew Lee Bankruptcy Claims Increased to $17.3 Million (S$23.2 Million) after Singapore Court Accepted Previously Rejected Claim of S$18.9 Million from Fulcrum Distressed Partners (Took Over Debt from Original Creditor Timor Global), Jannie Chan was Declared Bankrupt in 2019 for Overdue Loan in Her Firm JASC to Licensed Moneylender SME Care, Jannie Chan Co-founded The Hour Glass with ex-Husband Henry Tay in 1979, Sentenced to 2 Weeks Jail in Singapore in 2019 for Contempt of Court “
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Co-founder of Singapore $840 Million Luxury Watch Retail Chain The Hour Glass Jannie Chan Siew Lee Bankruptcy Claims Increased to $17.3 Million (S$23.2 Million) after Singapore Court Accepted Previously Rejected Claim of S$18.9 Million from Fulcrum Distressed Partners (Took Over Debt from Original Creditor Timor Global), Jannie Chan was Declared Bankrupt in 2019 for Overdue Loan in Her Firm JASC to Licensed Moneylender SME Care, Jannie Chan Co-founded The Hour Glass with ex-Husband Henry Tay in 1979, Sentenced to 2 Weeks Jail in Singapore in 2019 for Contempt of Court
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