Troubled oil trading and bunkering firms Inter-Pacific Group, and subsidiary Inter-Pacific Petroleum, will be holding its first creditors’ meeting on 14 November in Singapore, according to a notice posted on a Singapore paper on Friday (1 November).
The meeting for both companies will be held at 4pm in Shenton Way, OUE Downtown 2, #3-00 Singapore 068809.
Those voting at the meeting must submit their proof of claim by 5pm on 11 November, 2019.
The administrators of the meeting are Andrew Grimmett and Lim Loo Khoon of Deloitte & Touche LLP.
The bunker craft operator licence of Inter-Pacific Petroleum was revoked by the Maritime and Port Authority of Singapore (MPA) on 15 October.
Trials involving the former bunker clerk of a Singapore-registered bunker tanker (IMO 9199701) chartered by IPP are ongoing at the State Courts of Singapore; the ex-assistant boson of the same vessel was found guilty over mass flowmeter tampering in late August.
Manifold Times in October reported the Director of IPP facing a legal suit from the Singapore branch of Societe Generale at the High Court of the Hong Kong Special Administrative Region.
A timeline organised list of events preceding the current development have been recorded by Manifold Times below:
Related: MPA revokes Inter-Pacific Petroleum bunker craft operator licence
Related: Magnets on MFMs: Trial starts for former bunker clerk of “Consort Justice
Related: First suspect charged over MFM tampering in landmark case
Related: With nearly $180 million of debt, IPP proposes interim juridical management
Related: Inter-Pacific Group, Inter-Pacific Petroleum under judicial management
Related: Magnets on MFMs: “Consort Justice” crew pleads ‘not guilty’ to tampering charge
Related: IPP responds to temporary suspension of bunker craft operator licence
Related: MPA temporarily suspends IPP bunker craft operator licence
Related: Singapore: Bunker Cargo officer, crew face charges over alleged MFM tampering
Photo credit: Manifold Times
Published: 5 November, 2019
Additional topics of bunker contamination and OCM services discussed at VPS’ Fuel Management Challenges – The Year of 2021 & Beyond webinar on 23 September; Manifold Times summarises the session.
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.
Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.