Saturday, March 12, 2011

TODAYonline: 70 customers demanding S$249,000 from True Spa

SINGAPORE - Three months after they were deemed not to be creditors of Subtle Senses - and hence not entitled to any proceeds from its ongoing liquidation - 70 True Spa clients are demanding about S$249,000 from True Spa.
They issued three letters of statutory demand, under the name of two members, to True Spa on Thursday and Friday, said their lawyer Salem Ibrahim. The 70 customers want the spa to honour the judgment sums they had...
URL: http://www.todayonline.com/Singapore/EDC110312-0000089/70-customers-demanding-S$249,000-from-True-Spa


at

1 comment:

  1. SpurMarch 12, 2011 10:47 AM

    That's how pro-business the laws and regulations in Singapore are. No wonder so many from overseas rush into this island to set up dodgy firms in finance, foreigner manpower sourcing, land banking, wine investment, gold investment etc.

    To add insult to injury, those victims have to spend more of their hard-earned money, maybe couple of thousands, for the 3 stat demand letters. How to enforce? Sue in court, you need to spend another $20K at least. And best of all, True Spa can claim no more assets and declare itself bankrupt. Even the liquidator of Subtle Senses admit that recovery proceeds are "nothing significant". After paying the liquidator's fees and lawyer's fees, will be negative value.

    ReplyDelete