Singapore tycoon sues banks for US$1 billion from collapse of Australian NewSat
In the early 2010s, a small Australian company tried to build a fleet of satellites before lenders, concerned about its chief executive officer’s flamboyant behaviour, pulled hundreds of millions of dollars of financing. The firm collapsed in 2015. More than a decade later, Singapore real estate tycoon Ching Chiat Kwong, who says he put US$100 million of his own money into NewSat, has not forgotten. The Supreme Court of Victoria begins hearing a case on Monday brought by the liquidators of the...المصدر: South China Morning Post | Source: South China Morning Post
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