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Media clarification: Brightoil has settled Sea Trader International’s debt

26 Nov 2018

Hong Kong bunkering firm Sea Trader International has already settled its claim of USD $943,651.38 with Singapore bunker supplier Brightoil Petroleum (S'pore) Pte Ltd (Brightoil) in middle November, says its Managing Director.

Simon Szeto was correcting a recent Reuters report which alleged Sea Trader International still being owed “nearly $1 million” by Brightoil.

“Hong Kong-based Sea Trader International is also suing Brightoil’s Singapore subsidiary for nearly $1 million for the sale of goods, court documents showed,” said the report from Reuters.

“Brightoil did have some debt with us and we did file a court case against Brightoil,” Szeto told Singapore bunker publication Manifold Times.

“In fact, we have filed the court action at early October and has reached agreement of full settlement and the case has been closed in middle November and we have no court case with Brightoil Singapore.

“We have recovered the whole principle amount owed [USD $943,651.38] in full and we have no loss on Brightoil. We have not joined the creditor list as Reuters reported.”

Published: 26 November, 2018

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