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Hearing date set for OCBC application to place KS Energy under judicial management

22 Sep 2020

The High Court of Singapore has on Monday (21 September) published a public notice that Oversea-Chinese Banking Corporation Limited (OCBC) has on 24 August, applied for KS Energy Limited and sister company KS Drilling Pte Ltd to be placed under judicial management in the Government Gazette.

According to the notice, the hearing for the application has been scheduled for Tuesday (13 October), 2.30 pm at the Singapore High Court. It is as follows:

Messrs Andrew Grimmett and Lim Loo Khoon of Deloitte & Touche LLP have been nominated as the judicial managers; and any person who intends to oppose the making of an order under section 91(6)(b) or the nomination of a judicial manager under section 91(3)(d) may appear at the hearing or by his solicitor for that purpose; and a copy of the application and its supporting affidavit will be furnished to any creditor or member of the company requiring them by the undersigned upon request and on payment of the reasonable charge..

Any parties who intend to appear at the hearing of the application must serve on, or send by post to Hin OCBC’s solicitors, Shook Lin & Bok LLP of 1 Robinson Road #18-00, AIA Tower, Singapore 048542, notice in writing of his intention to do so. 

The notice must state the name and address of the person, or if a firm, the name and address of the firm, and must be signed by the person or firm, or his or their solicitor. It must be sent in sufficient time to reach  Shook Lin & Bok LLP not later than 3 working days before 12 o’clock noon of Thursday (12 October).

Kris Taenar Wiluan, CEO of Singapore-listed KS Energy, an energy services provider to the marine and petrochemical industries, in early August faced 112 charges in relation to false trading and market-rigging transactions to artificially drive up the share price of KS Energy. 

Related: Singapore: CEO of KS Energy Kris Wiluan facing false trading and market-rigging charges


Photo credit: Manifold Times
Published: 20 September, 2020

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