Meta Health (SGX:5DX) has applied for a bankruptcy order against former chief medical officer Vasanthan Metupalle and his spouse, Jagannathan Padmaja Sakthi, after they failed to pay the second tranche of a settlement, according to a Monday filing on the Singapore Exchange.
Metupalle and Sakthi had agreed to pay the settlement in two parts, with the second tranche due by Dec. 31, 2024. While the first payment was made in May 2024, the second tranche remains unpaid despite a statutory demand issued on Jan. 28 and a Feb. 18 deadline.
Meta filed the bankruptcy application with the High Court of Singapore on March 5.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.