Connect with us

Legal

Hin Leong judicial managers to hold meeting of creditors to discuss fees incurred

According to the notice in the Government Gazette, the meeting will be held electronically on 13 January 2021 at 3.00pm pursuant to COVID-19 safety measures.

Admin

Published

on

peter nguyen CQhgno3yhv8 unsplash

A notice was published in the Government Gazette on Monday (4 January) regarding a meeting of creditors by the Judicial Managers of Hin Leong Trading Pte Ltd. 

According to the notice, the creditors meeting will be held by electronic means on Wednesday, 13 January 2021 at 3.00pm pursuant to COVID-19 safety measures.

The agenda for the meeting is as follows: 

  • To update on the status of the judicial management;
  • To approve the fees incurred by the Interim Judicial Managers and their solicitors during the interim judicial management period details of which are set out in the 2nd Affidavit of Goh Thien Phong filed on 18 September 2020 in HC/OS 417/2020 exhibiting the Judicial Managers’ costs schedule, and to authorise the payment of such fees and reasonably incurred disbursements out of the assets of the Company, subject to the approval of the Court;
  • To approve the fees incurred and likely to be incurred by the Judicial Managers and their solicitors during the judicial management period up till the end of the current judicial management (i.e. 3 February 2021) details of which are set out in the 2nd Affidavit of Goh Thien Phong filed on 18 September 2020 in HC/OS 417/2020 exhibiting the Judicial Managers’ costs schedule, and to authorise the payment of such fees and reasonably incurred disbursements out of the assets of the Company, subject to the approval of the Court;
  • Any other business.

Additional details on the meeting are as follows:

  • The meeting will be conducted electronically via Webex and voting at the meeting will be conducted using Webex’s polling function. Further details of the alternative arrangements relating to attendance and voting at the meeting via electronic means (including the arrangements by which the meeting can be electronically accessed via live audio-visual webcast, e.g. meeting ID and password details as well as the link to access the live audio-visual webcast), will be sent by email to the email addresses specified in Form A subject to receipt and verification by the Judicial Managers of the proxy form and Form A.
  • Forms of general and special proxies and Form A have been dispatched. Proxy forms and Form A must be lodged with the Judicial Managers by no later than Tuesday, 12 January 2021, 5.00pm (SG time) by post to Hin Leong Trading (Pte) Ltd (Under Judicial Management) c/o PricewaterhouseCoopers Advisory Services Pte Ltd, 7 Straits View, Marina One, East Tower Level 12, Singapore 018936 or by email to [email protected].
  •  Creditors may send any questions or other relevant matters that the creditors wish to raise at the meeting by way of email to the email address above by Friday, 8 January 2021, 5.00pm (SG time).
  • To be entitled to vote at the meeting, creditors must lodge a proof of debt with the Judicial Managers, if not previously lodged, by post or by email to above stated addresses by no later than Friday, 8 January 2021, 5:00pm (SG time).

Related: Hin Leong judicial managers and legal firms could rack up SGD 17.3 million in fees
Related: Bank of China takes legal action against BP Plc and Lim family to recover $312.9 million
Related: Hin Leong Trading founder denies allegations of forgery put forward by HSBC
Related: HSBC takes Lim family and Hin Leong employee to court to recover USD 85.3 million


Photo credit: Peter-Nguyen
Published: 5 January, 2021

Continue Reading

Vessel Arrest

Vietnam: Fishing vessel TH-92237-TS arrested over 80,000 litres of illegal diesel oil

Ship first spotted being surround by several other wooden hull fishing boats at a location about 100 nautical miles southeast of Con Da on 7 June.

Admin

Published

on

By

Kiem tra huong tien

The Vietnam Coast Guard on Saturday (8 June) said it arrested fishing vessel TH-92237-TS over the carriage of about 80,000 litres of illegal diesel oil.

It first spotted the vessel being surround by several other wooden hull fishing boats at a location about 100 nautical miles southeast of Con Da on 7 June.

The authority proceeded to inspect the vessel and found it to be transporting about 80,000 litres of diesel oil with no invoices or documents proving its legal origin.

Following, the coast guard conducted a record of administrative violations, established initial records, and sealed the violating goods.

It escorted the fishing vessel back to the port of Squadron 301 (in Vung Tau City) and handed it over to the Command of Coast Guard Region 3 for further investigation and handling in accordance with the provisions of law.

 

Photo credit: Vietnam Coast Guard
Published: 13 June 2024

Continue Reading

Alternative Fuels

IUMI: How can liability and compensation regimes adapt to alternative bunker fuels and cargoes?

Existing international liability and compensation regimes do not fully cater to the changes that the use of alternative marine fuels will bring.

Admin

Published

on

By

Dangerous cargo

By Tim Howse, Member of the IUMI Legal & Liability Committee and Vice President, Head of Industry Liaison, Gard (UK) Limited

The world economy is transitioning, with industries across the board seeking to reduce their carbon footprint and embrace more sustainable practices. As part of this, there is a huge effort within our industry to look to decarbonise, using alternative fuels such as biofuel, LNG, LPG, ammonia, methanol, and hydrogen.

Until now there has been much focus on carbon emissions and operational risks associated with the use of alternative fuels. This includes increased explosivity, flammability, and corrosivity. An ammonia leak causing an explosion in port could result in personal injuries, not to mention property damage, air, and sea pollution. In addition, alternative fuels may not be compatible with existing onboard systems, increasing the risk of breakdowns and fuel loss resulting in pollution. Apart from these safety concerns, which particularly concern crew, air pollution and other environmental impacts need to be addressed.

However, the green transition also presents us with a separate regulatory challenge, which has received less attention so far. So, whilst carbon emissions and safety concerns are rightly on top of the agenda now, the industry also needs to prioritise the potential barriers in the legal and regulatory frameworks which will come sharply into focus if there is an accident.

If anything, historic maritime disasters like the Torrey Canyon spill in 1967, have taught us that we should look at liability and compensation regimes early and with a degree of realism to ensure society is not caught off-guard. With our combined experience, this is perhaps where the insurance industry can really contribute to the transition.

Currently, existing international liability and compensation regimes do not fully cater to the changes that the use of alternative fuels will bring. For example, an ammonia fuel spill would not fall under the International Convention on Civil Liability for Bunker Oil Pollution Damage (Bunkers Convention), potentially resulting in a non-uniform approach to jurisdiction and liability. Similarly, an ammonia cargo incident would not fall under the International Convention on Civil Liability for Oil Pollution Damage (CLC). Uncertainties may also exist in the carriage of CO2 as part of Carbon Capture and Storage (CCS) projects, which may be treated as a pollutant, with corresponding penalties or fines.

A multitude of questions will arise depending on what happens, where it happens, and the values involved, many of which may end up as barriers for would be claimants. How will such claims be regulated, will there be scope for limitation of liability, and would there be a right of direct action against the insurers? In the absence of a uniform international liability, compensation and limitation framework, shipowners, managers, charterers, individual crew, and the insurers may be at the mercy of local actions. Increased concerns about seafarer criminalisation (even where international conventions exist, ‘wrongful’ criminalisation does still occur) may emerge, creating another disincentive to go to sea.

When being carried as a cargo, the International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea (HNS), which is not yet in force, may resolve some of these issues for alternative fuels and CO2. However, until HNS comes into force, there will be no international uniformity to liability and compensation for the carriage of alternative fuels and CO2 as cargoes. This creates uncertainties for potential victims and their insurers, who may face increased risks and costs, due to the potential inability of existing regulations to provide protections.

The situation is even less clear in the case of bunkers. The rules for using alternative fuels as bunkers might require a separate protocol to HNS, a protocol to the Bunkers Convention, or a whole new convention specifically for alternative fuels.  Relevant considerations for the appropriate legislative vehicle include states’ preparedness to reopen the Bunkers Convention, the ability to conclude a protocol to HNS before it comes into force, and whether a multi-tier fund structure is needed for alternative fuels as bunkers (perhaps unnecessary because bunkers are usually carried in smaller quantities compared to cargoes).

Until then, what we are left with are the existing international protective funds, designed to respond at the highest levels to pollution claims resulting from an oil spill, without any similar mechanism in place to respond to a spill of alternative fuels, which are themselves so central to a green transition. Somewhat perversely, victims of accidents involving an oil spill may therefore enjoy better protections than victims of an alternative fuels spill.

In summary, while the use of alternative fuels will no doubt help to reduce the industry's carbon footprint, there are safety and practical hurdles to overcome. Stakeholders must also come together to find solutions to complex - and urgent, in relative terms - legal and regulatory challenges.

 

Photo credit: Manifold Times
Source:  International Union of Marine Insurance
Published: 13 June 2024

Continue Reading

Legal

Malaysia: MMEA detains Singapore tugboat, barge for illegal anchoring in Johor

Inspection found that both vessels from Singapore were suspected of committing offences for failing to report their arrival and anchoring without permission from Malaysian Marine Department Director.

Admin

Published

on

By

Malaysia: MMEA detains Singapore tugboat, barge for illegal anchoring in Johor

The Malaysian Maritime Enforcement Agency (MMEA) on Tuesday (11 June) detained a Singapore-registered tugboat with a barge at approximately 3.5 nautical miles west of Pulau Harimau in Johor.

Mersing Zone MMEA director Maritime Commander Suhaizan Saadin said the tugboat and barge were apprehended at 11.00am by a MMEA patrol team during Ops Jaksa and Ops Tiris. 

“Inspection found that both vessels from Singapore were suspected of committing offences for failing to report their arrival and anchoring without permission from the Director of the Malaysian Marine Department,” he said. 

Investigation also revealed all seven crew members from both vessels were Indonesians, aged between 25 and 44 including the captain.

The detained vessels and crew were taken to Mersing Maritime Jetty to be handed over to MMEA investigators for investigation under the Merchant Shipping Ordinance 1952.

“MMEA will not compromise on any activities that are against the law and will always be committed in continuing operations and patrols along Malaysian Maritime Zone (ZMM) to curb illegal activities in the country's waters,” said Suhaizan.

 

Photo credit: Malaysian Maritime Enforcement Agency
Published: 12 June 2024

Continue Reading
Advertisement
  • v4Helmsman Gif Banner 01
  • Aderco advert 400x330 1
  • RE 05 Lighthouse GIF
  • SBF2
  • Consort advertisement v2
  • EMF banner 400x330 slogan

OUR INDUSTRY PARTNERS

  • HL 2022 adv v1
  • SEAOIL 3+5 GIF
  • Triton Bunkering advertisement v2
  • Singfar advertisement final
  • 102Meth Logo GIF copy


  • Innospec logo v6
  • Uni Fuels logo advertisement white background
  • Synergy Asia Bunkering logo MT
  • Auramarine 01
  • Golden Island logo square
  • Cathay Marine Fuel Oil Trading logo
  • E Marine logo
  • intrasea
  • Trillion Energy
  • CNC Logo Rev Manifold Times
  • 400x330 v2 copy
  • Headway Manifold
  • VPS 2021 advertisement
  • Advert Shipping Manifold resized1

Trending