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Liquidator of Southsea Marine Pte Ltd to hold meeting of creditors in early February

03 Feb 2021

A notice was published in the Government Gazette on Monday (1 February) regarding a creditor’s meeting to be held for the winding up of Southsea Marine Pte Ltd.

According to the notice, the meeting will be held on Tuesday (9 February) at 4.00 pm via video-conference in line with the COVID-19 (Temporary Measures) Act 2020.

All creditors who have filed a Proof of Debt will be issued the details of the meeting. 

To be entitled to attend, nominate and vote at the meeting, a Proof of Debt and form of proxy must be lodged with the liquidator no later than Friday, 5 February, 2021 at 4.00 pm.

The agenda for the meeting was outlined to be:

  1. To approve the terms of the Deed of Novation and Assignment dated 7 August 2020 pursuant to the Set-off and Settlement Agreement (“SOSA”) dated 29 June 2020 entered into between Swiber Holdings Limited (Judicial Managers Appointed) (“SHL”), Vallianz Holdings Limited and Swiber Offshore Construction Pte Ltd (Judicial Managers Appointed) to settle the owings outstanding between various Vallianz entities and Swiber entities as at 31 December 2016;
  2. To approve the terms of the Letter Agreement dated 7 August 2020 entered into between Southsea Marine Pte Ltd (In Compulsory Liquidation) (the “Company”) and SHL to record their agreement in connection with SHL’s assumption of liabilities and the assignment of receivables to SHL under the Deed of Novation and Assignment;
  3. To appoint a Committee of Inspection (“COI”) pursuant to Section 277(1) of the Companies Act (Cap 50);
  4. To approve the Liquidator’s first interim billing and disbursements;
  5. To propose giving the Liquidator power to appoint solicitors;
  6. To consider any other matter which may properly be brought before the meeting.

The contact details of the appointed liquidator are:

Andrew Grimmett
Liquidator
c/o 6 Shenton Way
OUE Downtown 2 #33-00
Singapore 068809


Photo credit: Drew-Beamer

Published: 3 February, 2021

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