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Directors declare inability of Nan Chiau Maritime to continue business, liquidators to be appointed

22 Jul 2022

The Directors of Xihe Holdings subsidiary Nan Chiau Maritime (Pte.) Ltd. on 4 July declared the company’s inability to continue business, according to a Thursday (21 July) notice on the Government Gazette.

As such, a meeting of its creditors has been organised to take place on 27 July 2022, a date within one month of the date of the Statutory Declaration.

The agenda of the meeting is as follows:

  1. To receive a full statement of the Company’s affairs together with a list of creditors and the estimated amount of their claims.
  2. To appoint liquidators.
  3. To consider the judicial managers’ remuneration and expenses as an expense of the winding-up.
  4. To be authorised to exercise any or all of the powers given by Section 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018.

A copy of the detailed agenda for the meeting of creditors of the Company on the aforementioned date and time has been circulated to all known creditors of the Company via registered post and email.

Any creditor of the Company who has not received the detailed agenda by this date is invited to contact the Company’s representatives at Ms. Gwee Hui Fang ([email protected]) and Ms. Ashley Shanti ([email protected]). where upon satisfactory verification, a copy of the detailed agenda will be provided.

Related: JMs of An Guang Shipping and other Xihe subsidiaries call for creditors meeting
Related: Grant Thornton Singapore appointed interim judicial managers for Xihe subsidiaries


Photo credit: Drew Beamer on Unsplash
Published: 22 July, 2022

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