letters of demand

Sunvic Chemical racks up $44 mil in corporate loan claims, says cash flow may be affected
SINGAPORE (Jan 11): Sunvic Chemical Holdings says two of its subsidiaries, Yixing Yinyan Import & Export Co and Jiangsu Jurong Chemical, have each received letters of demand regarding corporate loans amounting to about RMB 222.5 million ($44.3 million). The first claim was lodged by Yixing City Futao Rural Micro Credit against Sunvic’s Yixing Yinyan, which acted as the corporate ...
Midas gets 2 letters of demand relating to more unauthorised loans
SINGAPORE (Apr 24): The board of Midas Holdings has received two letters of demand dated Mar 9 and Apr 16, bringing to light another two loan guarantees that the group does not know about. These are the latest in a string of unauthorised loans taken out by the group’s China subsidiaries, which have prompted investigations by Singapore’s Commercial Affairs Department (CAD). See: Midas ...
Serrano unit receives writ of summons over unpaid bills
SINGAPORE (Aug 17): Serrano, the provider of interior fit-out solutions for the residential, hospitality and retail sectors, says its wholly owned subsidiary, Serrano Holdings, has received a writ of summons on Aug 2, from Maxcon Enterprise’s lawyers. The writ of summons were filed with the High Court of the Republic of Singapore for the claims of over $715,000 for goods that were sold and ...