SERI KEMBANGAN: Businessman Lee Kim Yew has reiterated that he is not bankrupt, saying he is “far away from insolvency”.
Lee said one of his former officers in a now wound-up US-based company, Club Excellence Inc, had previously obtained a RM3 million judgment in his favour in the US and used it in Malaysia to declare him bankrupt.
He claimed that the individual, a US citizen named Patrick Healy, later “felt it was a mistake” and agreed to negotiate with him for a settlement and to set aside the court order.
The Country Heights Holdings Bhd (CHHB) founder added that negotiations were ongoing.
An image of the results of a bankruptcy search which confirmed Lee’s bankruptcy status went viral yesterday.
Lee claimed it was a personal attack against him.
“I have accumulated a lot of tangible and intangible assets. I am solidly solvent,” Lee said at a press conference at the Mines Beach Resort here today.
He said he has written to Putrajaya to allow his lawyer to continue negotiations with Healy, a lawyer by training, to set aside the US court order.
“Failing which, I will file my statement of affairs with the insolvency department director-general by depositing RM3 million in case the department has to deal with Healy,” he said.
Lee also said he has stepped down from all company directorships since Jan 26, and denied reports that he was banned from leaving the country.
“I have no plans to travel for now but I did not receive any travel ban notice,” he said.
Checks by FMT on the e-Insolvensi website yesterday found that Lee was declared bankrupt on Jan 26.
Lee claimed that Healy initiated negotiations “after Jan 26”, but did not state the exact date.
CHHB is known for constructing local landmarks such as MSC Cyberjaya, the Palace of Golden Horses, and the Mines International Expo and Convention Centre.
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