Singapore bunker supplier Inter-Pacific Petroleum Pte Ltd (IPP) and its parent company Inter-Pacific Group Pte Ltd on Friday (16 August) filed for judicial management at the High Court of the Republic of Singapore.
Both firms have appointed Deloitte & Touche LLP as their Judicial Managers, according to documents seen by Singapore bunkering publication Manifold Times.
The appointment of Judicial Managers allows for “a more advantageous realisation of the Company’s assets than would be effected by a winding-up.”
A pre-trial conference on 5 September, 2019 has been organised regarding the development.
The bunker craft operator licence of IPP has been temporarily suspended by the Maritime and Port Authority of Singapore (MPA) since 27 June.
Former crew members of a Singapore-flagged bunker tanker (IMO 9199701) chartered by IPP, now renamed as Fragrance, are in the middle of trials at the State Courts of Singapore over tampering of a mass flowmeter.
Dr Goh Jin Hian, Director of IPP, earlier told Manifold Times that, “it was premature for MPA to have suspended” IPP’s bunker craft operator licence.
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: 26 August, 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.