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Serious Chiobu Jannie Chan Bankrupt!

laksaboy

Alfrescian (Inf)
Asset
This balut is very ... Dry and Chewy.

Too ripe, can see the duck beak. :wink:

balut001.jpg
 

Leckmichamarsch

Alfrescian
Loyal
There's no shame for business people to go bankrupt. What's more important is to pick themselves up again.

However, at her age, I think it's better for her to spend the rest of her life sorting out her family problems.
Our bankruptcy laws n adminstration are absurdly pathetic. Bankrupts are allowed to avoid repayment with all sorts of lame excuses...woman earing $8000 does not set aside credible amount to creditot fund...gets discharged after a few yrs beco OA is ever short of manpower n creditors must hire lawyers to fight oa discharge applicaton which i almost always approved by the court...brithers in law?
IT IS A LAFFING STOCK OF THE WORLD
THE STATE IF AFFAIRS MIRRORS THE DEEP ROT WE SEE ARD US.
 

LordElrond

Alfrescian (InfP)
Generous Asset
Yes it’s quite shameful....can’t justify the negative image for someone of her status. Maybe she no fuck care face value already
Imho she’s just plain chow kuan....maybe executed with advance planning. Moneylender lppl. She should have cheated a few more and not just one.
Doesn’t sound like she has no money. Chow kuan more likely. Not the first time sumore.
 

bobby

Alfrescian
Loyal
SME Care gave a loan of $500,000 to Ms Chan's company JASC in 2012, secured by a mortgage of two shops JASC owned and her personal guarantee.

JASC defaulted on the debt repayment, despite the interest rate having been subsequently reduced from 7 per cent to 5.2 per cent per month.

The mortgaged properties were sold but the proceeds were not sufficient to discharge the debt.

Ms Chan, being the guarantor, was asked to make good the amount owed, which had ballooned to $3.69 million by September 2017. The debt in question now stands at more than $4.15 million.

Wah lan eh...from $500K loan can now become $4m debt. This is legalised loan shark?
 

Narong Wongwan

Alfrescian (Inf)
Asset
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