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Judicial Managers considering to take former Singapore Director of Inter-Pacific Petroleum to court

Deloitte & Touche JMs believe IPP has a viable claim against Dr Goh Jin Hian for breaches of his director’s duties to act with skill, care and diligence which he owned to IPP, states court document.
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Inter Pacific by Manifold Times

Judicial Managers (JMs) of former Singapore bunker supplier and bunker craft operator Inter-Pacific Petroleum (IPP, or the Company) on 27 August submitted an application to the High Court of the Republic of Singapore, according to documents obtained by Singapore bunkering publication Manifold Times.

The application was for the extension of the JM Order by a further six months (an earlier order granted the extension of the JM Order for a further 180 days from 3 March 2020) to consider taking Dr Goh Jin Hian, who was a director at IPP from 28 June 2011 to 20 August 2019, to court.

The JMs from Deloitte & Touche LLP are also considering if IPP should be placed in liquidation before any action against Dr Goh, and leave prosecution of Dr Goh to be handled by the prospective liquidators.

An extension of the JM Order by the court will allow the JMs more time to consider the above two options.

The JMs said they had been looking into IPP’s books and records and investigating its affairs since the Company was placed under judicial management.

“It was following such investigations that the JMs, in consultation with their solicitors, verily believe that the Company has a viable claim against one of its former directors (specifically, one Dr Goh Jin Hian (“Dr Goh”)) for breaches of his director’s duties to act with skill, care and diligence which he owned to the Company,” stated the document.

“Two of the Company’s largest creditors, Malayan Banking Berhad (“Maybank”) and Societe Generale, Singapore Branch (“SocGen”) have come forth to the JMs indicating an intention to fund the prospective legal action against Dr Goh in respect of this breaches of duties.”

Maybank is owed an amount of USD 88.3 million while SocGen is owed USD 81.3 million, according to a list shown during a creditor’s meeting on 14 November 2019 seen by Manifold Times.

A ten-day trial at the State Courts of Singapore meanwhile ended on 10 September with the bunker clerk of bunker tanker Fragrance, formerly known as Consort Justice, being sentenced to 10 months’ imprisonment.

The Consort Justice was chartered by former Singapore bunker supplier Inter-Pacific Petroleum at the time of arrest; the vessel has since been renamed as Fragrance.

A timeline organised list of events related to the trial of bunker tanker Fragrance is below:

Related: Magnets on MFMs: Trial ends with ten-month imprisonment term for Bunker Clerk of “Fragrance”
Related: Magnets on MFMs: First suspect charged over MFM tampering in landmark case
Related: Magnets on MFMs: “Consort Justice” crew pleads ‘not guilty’ to tampering charge
Related: Singapore: Bunker Cargo officer, crew face charges over alleged MFM tampering

A timeline organised list of events preceding the current development of Inter-Pacific Petroleum have been recorded by Manifold Times below:

Related: Singapore: Inter-Pacific Group receives winding up order from High Court
Related: Singapore: Inter-Pacific Group files for winding up application at High Court
Related: MPA revokes Inter-Pacific Petroleum Pte Ltd bunker supplier licence
Related: Co-heads of Trade and Commodities Finance for Asia-Pacific leave SocGen
Related: Inter-Pacific Group, Inter-Pacific Petroleum to hold creditors’ meet
Related: NewOcean detains Singapore-flagged bunker tanker “Pacific Energy 28”
Related: SocGen lawsuit against NewOcean Petroleum dropped, party to counterclaim
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 judicial 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: 16 September, 2020

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Legal

Trafigura subsidiary’s employee named among suspects in Pertamina corruption case

Indonesia’s AGO reportedly named new suspects including the former Business Development Manager at PT Trafigura, the commodities group’s Indonesian subsidiary, who was only identified as “MH”.

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2 days ago

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July 16, 2025

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Pertamina

An employee at an Indonesian subsidiary of commodities group Trafigura was named as a suspect among nine people in a corruption case involving state-owned oil giant PT Pertamina, according to several news reports. 

On 10 July, Indonesian Attorney General’s Office (AGO) reportedly named the new suspects including the former Business Development Manager at PT Trafigura, who was only identified as “MH”, in an investigation into alleged mismanagement and corruption between 2018 and 2023 that the AGO has said resulted in losses of Rp285 trillion (USD 17.6 billion) to the state. This is a jump from the previously reported USD 12 billion, which has since been revised by the AGO. 

According to Reuters, Trafigura said the employee has been cooperating with the authorities. 

“We understand that the employee has been recently named a suspect in an investigation involving PT Pertamina,” a Trafigura spokesperson said in an email.

The company added it is providing appropriate legal representation to the employee and is awaiting further details about the specific allegations.

Manifold Times previously reported Singapore-based trading companies were reached out by Indonesian authorities to seek their cooperation in the corruption investigation.

According to several people who received or saw the invitation, who wished to remain anonymous, the oil traders received notices earlier this month, requesting them to assist the office of Indonesia’s Attorney General by providing answers on overall governance and past transactions. 

Related: Indonesia seeks cooperation of Singapore traders in USD 12 billion Pertamina probe

 

Photo credit: Pertamina
Published: 16 July 2025

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Winding up

Singapore: Somerset Maritime Pte Ltd to undergo voluntary wind up, selects liquidator

Creditors are required on or before 9 August 2025 to send in their names and addresses with particulars to liquidator at 18 Robinson Road, #20-02 18 Robinson, Singapore 048547.
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3 days ago

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July 15, 2025

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calculator steve pb from Pixabay

Singapore-registered Somerset Maritime Pte Ltd and related companies will voluntarily wind up following an Extraordinary General Meeting on 30 June, according to a Government Gazette notice published on Thursday (10 June).

In August 2020, HSBC reportedly arrested two product tankers owned by Somerset Maritime over cargo claims totalling USD 6 million. HSBC filed cargo claims worth USD 3 million against each vessel.

The resolutions set out below were duly passed:

SPECIAL RESOLUTIONS

  • VOLUNTARY WINDING UP

RESOLVED THAT the company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (“IRDA”).

  • POWER OF LIQUIDATOR

RESOLVED THAT the Liquidator be authorised to exercise any of his power given by Section 177 of the IRDA and to distribute to member(s) either in cash or in specie any part or all of the surplus assets of the Company, if any.

ORDINARY RESOLUTION

  • APPOINTMENT OF LIQUIDATOR

RESOLVED THAT Mr Junichi Naganawa be and is hereby appointed Liquidator for the purpose of winding up the affairs of the Company and distributing the assets, if any and that his remuneration be fixed on the usual scale of his professional charges for the work involved.

In another notice, the liquidator of the company said creditors are required on or before 9 August 2025 to send in their names and addresses with particulars (if any) to liquidator at 18 Robinson Road, #20-02 18 Robinson, Singapore 048547.

The liquidator may require creditors or their solicitors to “come in and prove their said debts or claims at such time and place as shall be specified in such notice or in default thereof, they will be excluded from the benefit of any distribution made before such debts are proved.”

 

Photo credit: steve pb from Pixabay
Published: 15 July, 2025

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Incident

India: MSC faces USD 1.1 billion lawsuit from Kerala state over “MSC ELSA 3” bunker spill

Reports noted approximately 84 mt of diesel and 376 mt of fuel oil on board the stricken vessel when it sank carrying 643 boxes.
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1 week ago

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July 9, 2025

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MSC Elsa 3 MT

Swiss-based Mediterranean Shipping Company (MSC) is reportedly facing a USD 1.1 billion lawsuit from India’s southern state of Kerala which is seeking compensation over marine fuel leaked from MSC ELSA 3 into the Arabian Sea in May.

The High Court of Kerala on Monday (7 July) ordered authorities to seize containership MSC Akiteta II which was anchored in Vizhinjam Port until securities for the claim amount are deposited.

The 1,700 TEU capacity containership MSC ELSA 3 was sailing from Vizhinjam to Kochi when failure in its ballast management system caused it to sink on 25 May about 13 nautical miles off the coast of Kerala.

Reports noted approximately 84 metric tonnes (mt) of diesel and 376 mt of fuel oil on board the stricken vessel when it sank carrying 643 boxes.

 

Photo credit: Indian Ministry of Defence
Published: 9 July 2025

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