Australian satellite company NewSat collapsed a decade ago amid lavish spending by its chief executive and an exceedingly dysfunctional board, all of which was splashed through the press. But for Singaporean businessman Ching Chiat Kwong, an early investor, the circus was beside the point.
Ching, who leads Singaporean high-rise developer Oxley Holdings, has devoted $20 million to funding a Victorian Supreme Court case brought by the company’s liquidator against the lenders who failed to follow through on $400 million in agreed funding.
