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AusGroup, unable to service debt, files to wind up

The Edge Singapore
The Edge Singapore • 1 min read
AusGroup, unable to service debt, files to wind up
On Dec 5, the company confirmed that it was unable to meet interest payment for a $110 million debt
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Unable to service its debt, Australia-based but Singapore-listed engineering firm AusGroup plans to wind up itself. A filing had been made to a Singapore court on May 18.

Tan Wei Cheong, Matthew Stuart Becker and Lim Loo Khoon of Deloitte & Touche are proposed to be appointed as joint and several liquidators of the company.

On Nov 23, the company had already filed for judiciary management. Trading of AusGroup shares has been suspended since Nov 10 last year.

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