Following the hearing for Hontop Energy to be placed under judicial management last Monday (7 September), the Singapore High Court on Friday (11 September) published a notice of judicial management.
The application was filed by CIMB Bank Singapore on 15 June, 2020 as the bank looked to recover USD 105 million from Hontop and accused the company of fraudulent conduct.
The details for the procedure were published in the Government Gazette as follows:
Name and address of Judicial Managers:
LIN YUEH HUNG AND OON SU SUN
c/o RSM Corporate Advisory Pte Ltd
8 Wilkie Road
#03-08 Wilkie Edge
Singapore 228095
Rajah & Tann Singapore LLP
9 Straits View #06-07 Marina One West Tower, Singapore 018937
Solicitors for the Applicant
Related: Hearing date set for Hontop Energy to be placed under judicial management
Related: CIMB requests for Hontop Energy restructuring amid suspicious transactions with BP
Related: Argus Media: Hontop Energy fraud allegations add to Singapore trading woes
Related: BP Singapore oil traders on leave over being named in Hontop Energy fraud allegations
Photo credit: Manifold Times
Published: 14 September, 2020
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The application by CIMB Bank Singapore was filed June as the bank looked to recover USD 105 million from Hontop; the hearing date is set for Monday, 7 September 2020.
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