Brightoil Petroleum (Brightoil) Holdings Limited on Wednesday (11 November) published a company update regarding the winding-up petition filed by a petitioner.
According to the statement, the petitioner and Brightoil have reached consent and the petition was subsequently dismissed by an order from the High Court of Hong Kong on Monday, 9 November.
Related: Brightoil to focus on upstream business in future development following HKSE delisting
Related: HKSE: Brightoil Petroleum Holdings shares to be cancelled from 20 October, 2020
Related: Brightoil Petroleum Holdings responses to cancellation of company shares on HKSE/
Related: Brightoil Petroleum publishes notice regarding winding-up application filed by creditor
Photo credit: Brightoil Petroleum Holdings Limited
Published: 12 November, 2020
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Universal Alliance, BMS United, Digiland International, Goodwood Associates, Southernpec (Singapore), and Taigu Energy were involved in alleged circular fictitious trades of fuel oil during July 2015.
Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd.
While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.