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News / Legal/ Brightoil provides updates on winding up petitions at SG, HK courts

Brightoil provides updates on winding up petitions at SG, HK courts

18 Jul 2019
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Hong Kong-listed Brightoil Petroleum (Holdings) Limited (Brightoil) on Wednesday (17 July) issued an update on its winding-up petitions at Hong Kong and Singapore.

A winding-up petition against Brightoil was heard at the High Court of Hong Kong on 17 July 2019, and was further adjourned to be heard on 22 July 2019.

“The Company will continue to seek legal advice in relation to the Petition. Further announcement(s) will be made by the Company as and when appropriate,” it stated.

There have since been several extensions of the moratoria following the initial winding up applications against Brightoil Singapore and Brightoil by creditors.

The last hearing at the High Court of Singapore was on 2 July 2019, and resulted in the moratoria further extended until 5 August 2019.

“The Company will continue to seek legal advice in relation to the Application. Further announcement(s) will be made by the Company as and when appropriate,” said Brightoil.

Trading in Brightoil’s shares on the Hong Kong Stock Exchange has suspended since 3 October 2017 due to audit issues.

A chronologically organised list of articles concerning Brightoil’s potential debt reorganization is below:

Related: Brightoil: Independent non-executive Directors leave over audit review
Related: Brightoil issues update on winding-up petition and sale of vessels
Related: Dr Sit Kwong Lam returns to Brightoil as Strategic Adviser
Related: Brightoil Petroleum announces new Chairman and acting CEO
RelatedBrightoil former Chairman undertook $1.4 billion in personal guarantees
RelatedOfficial: Dr Sit Kwong Lam leaves Brightoil Petroleum Holdings
RelatedHong Kong High Court issues bankruptcy order against Brightoil Chairman
RelatedBrightoil aggregate debt has reached approximately $1.9 billion, it updates
RelatedBrightoil creditor claims amount to US $250 million, potential debt reorganisation
RelatedBrightoil to defend against winding up petition at Hong Kong court
RelatedSingapore: Brightoil to apply for six-month moratorium order at High Court
RelatedBrightoil oilfield project secures USD $700 million CNOOC funding
RelatedBrightoil: Plans to sell Zhoushan oil storage terminal, 15 vessels
RelatedShell to offload crude oil cargo from arrested “Brightoil Lion” tanker
RelatedBrightoil VLCC and Aframax tanker arrested at Singapore port
RelatedSingapore: Players to get fuel oil cargoes back from Brightoil bunker tankers
RelatedSingapore: Petrolimex v Brightoil case progresses to Pre Trial Conference
RelatedSingapore: Brightoil bunker creditor list growing with new firms
RelatedSingapore: Petrolimex owed over USD $30 million by Brightoil
RelatedBrightoil signals return to the shipping sector, starts reorganisation of debt
RelatedSingapore: Brightoil bunker tanker fleet placed under Sheriff’s arrest
RelatedSingapore: Toyota Tsusho Corporation seeking $21 million from Brightoil
RelatedQatar National Bank seeks USD $21.59 million debt from Brightoil

Published: 18 July, 2019
 

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