Borrowed SGD10M in three days
Singapore’s High Court has ruled in favor of Resorts World Sentosa in its legal battle with a Malaysian businessman who was trying to avoid paying SGD5.9 million (US$6.5 million) in outstanding debt.
According to Inside Asian Gaming, Lee Fook Kheun had argued that the credit deals he signed over a three-day period in 2010 were invalid because he was intoxicated. Lee borrowed a total of SGD10 million. He had paid back more than SGD4 million, then in 2015 refused to pay the balance.
In its ruling, the High Court stated, “Mr. Lee has not proved on the balance of probabilities that he was so intoxicated that he failed to understand the nature and effect of the credit agreements. Even if this were not so, he has not rescinded the agreements; indeed his delay and conduct have affirmed them.”
IAG described Lee as an executive in the construction industry.
