KPMG Services Pte Ltd, liquidators of former international bunker trading firm Dynamic Oil Trading (Singapore) Pte Ltd (DOT), on Tuesday (20 October) published a notice in the Government Gazette notifying DOT’s intention to declare its first interim dividend to unsecured creditors.
The details in the notice are as follows:
|Name of Company||Dynamic Oil Trading (Singapore) Pte. Ltd.
(In Creditors’ Voluntary Liquidation)
|Address of Registered Office||16 Raffles Quay #22-00
Hong Leong Building
|Last Day for Receiving Proofs||3 November 2020|
|Name of Liquidators||Bob Yap Cheng Ghee
Tay Puay Cheng
|Address of Liquidators||c/o KPMG Services Pte Ltd
16 Raffles Quay #22-00
Hong Leong Building
DOT, a subsidiary of O.W. Bunker, was incorporated in Singapore in August 2012 and filed for liquidation in November 2014.
Lars Moller is the former CEO of DOT; he was found by the Court of Aalborg in Denmark to be guilty of several criminal codes in May 2018 and sentenced to a prison term of one year and six months.
The jail term was later increased to five years due to fraud of “a particularly serious nature” after a failed appeal by Moller.
Related: Singapore: O.W. Bunker A/S stakeholders take Deloitte & Touche LLP to court over alleged negligence
Related: Danish Business Authority finds fault with OW Bunker auditors
Related: O.W. Bunker verdict: Prison sentence for Lars Moller
Related: OW Bunker: High Court explains reviewed judgement of Lars Moller
Photo credit: Manifold Times
Published: 22 October, 2020
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.
‘MPA had immediately contacted the relevant bunker suppliers to take necessary steps to ensure that the relevant batch of fuel was no longer supplied. Further investigations are currently on-going,’ it informs.