A winding up petition has been scheduled against Hong Kong listed Brightoil Petroleum (Holdings) Limited at a Hong Kong court on 6 March 2019, reports the South China Morning Post.
The petition has been organised by a company called Broad Action; it is unclear how this firm is connected to Brightoil.
The winding up petition, if successful, could mean the liquidation of Brightoil’s assets in order to pay off debt.
Meanwhile, the latest Brightoil hearing of a winding up petition initiated by Petrolimex has been scheduled to take place at the High Court of the Republic of Singapore on Friday (18 January).
The upcoming session will likely focus on the approval of a moratorium order, to be applied under Section 211B of the Companies Act, that seeks to protect Brightoil Petroleum (S'pore) Pte Ltd against other forms of legal challenges while it undergoes restructuring.
Related: Singapore: Brightoil to apply for six-month moratorium order at High Court
Related: Singapore: Petrolimex v Brightoil case progresses to Pre Trial Conference
Related: Singapore: Petrolimex owed over USD $30 million by Brightoil
Related: Petrolimex in winding up application against Brightoil at Singapore High Court
Other related: Brightoil VLCC and Aframax tanker arrested at Singapore port
Other related: Brightoil signals return to the shipping sector, starts reorganisation of debt
Other related: Brightoil: Plans to sell Zhoushan oil storage terminal, 15 vessels
Other related: Singapore: Brightoil bunker tanker fleet placed under Sheriff’s arrest
Other related: Singapore: Players to get fuel oil cargoes back from Brightoil bunker tankers
Other related: Singapore: Toyota Tsusho Corporation seeking $21 million from Brightoil
Other related: Qatar National Bank seeks USD $21.59 million debt from Brightoil
Published: 16 January, 2019
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.
Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.
Dwivedi Vivek Kumar ended his tenure as Global Head – Bitumen & Shipping & Regional Head – APAC at GP Global APAC on 10 November 2020 due to internal structuring of the GP Global Group.