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Dynamic Oil Trading liquidators plan to declare interim dividend to unsecured creditors

22 Oct 2020

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

Singapore 048581

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

Singapore 048581

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

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