honestbee loses court protection from creditors
Singapore
THE Singapore High Court has dismissed honestbee's application to convene a scheme meeting to restructure some US$230 million worth of debt, The Business Times has learned. This effectively opens the door to creditors to apply for a winding up order on the company.
In a closed-door hearing on Thursday, honestbee's request for a two-week adjournment was turned down by the court. The company made the application after learning that potential white knight Brian Koo may withdraw his support for the restructuring.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Singapore battles to revive struggling stock market
Singapore’s Anywheel gets green light to expand fleet to 35,000
Vietnam education startup Prep bags US$7 million in Series A funding
Cruise operator Viking prices IPO within range to raise US$1.54 billion: source
Ninja Van axes more than 20 employees in tech team in Singapore
Temasek-backed PsiQuantum to build first commercial quantum computer