Debt Default Leads Singapore Fund to File Winding-Up Petition Against Trillion Glory

Tuesday, 9 July 2024, 11:22

A private-equity fund owned by Singapore's Temasek Holdings has filed a winding-up petition against Trillion Glory, a subsidiary of Chinese developer R&F Properties, citing unpaid debt amounting to approximately US$614 million. The petition, as disclosed in a Hong Kong exchange filing, highlights the financial strain and legal actions faced by the real estate entity due to the unresolved debt issue. The looming threat of liquidation underscores the significance of timely debt repayments and the potential consequences of defaulting on financial obligations.

South China Morning Post — Debt Default Leads Singapore Fund to File Winding-Up Petition Against Trillion Glory

Debt Default and Legal Action

A winding-up petition has been filed against Trillion Glory, a subsidiary of R&F Properties, by a private-equity fund owned by Temasek Holdings, owing to unpaid debt totalling around US$614 million.

Financial Impact

The debt amount: Approximately US$614 million
Legal consequences: Winding-up petition filed
Risks involved: Potential liquidation threat

The situation reveals the critical need for prompt debt settlement to avoid significant legal and financial ramifications.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.