A notice was published in the Government Gazette on Tuesday (29 December) regarding the winding up application filed by NSL OilChem Waste Management Pte Ltd (NOWM), the environmental services arm of SGX-listed NSL Ltd, against local marine slop collection and disposal company Prosper Marine Pte Ltd on 24 November.
According to the notice, the application has been approved and all Prosper Marine’s creditors should file their proof of debt with the appointed liquidators who will be administering all affairs of the company.
Name and address of joint and several liquidators:
Seshadri Rajagopalan and Paresh Tribhovan Jotangia
c/o Grant Thornton Singapore Pte Ltd
8 Marina View
#40-04/05 Asia Square Tower 1
Singapore 018960
Background summary
NOWM’s move to windup Prosper Marine came after a High Court Judge decision on 29 September where it won claims in three suits (Suit 1062, Suit 853 and Suit 1048) against the defendant.
Suit 1062 relates to invoices issued by NOWM to Prosper Marine between June 2015 and October 2016 under the 2014 Contracts worth $6,429,105.74 before interest and $7,629,613.70 with interest (calculated up to 23 February 2017).
Suit 853 revolves around the sole issue whether the Prosper Directors are liable in their personal capacity for NOWM’s outstanding invoices. The Judge found the Prosper Directors jointly and severally liable for NOWM’s unpaid invoices, including 18% late payment interest.
Suit 1048 concerns NOWM’s claim of $261,290.32 for its outstanding charter hire for the period between 27 May and 16 September 2016 as well as damages in respect of Prosper Marine’s breaches of the Charterparty with interest.
The full 118-page High Court Judge decision can be viewed here.
Related: NSL OilChem Waste Management makes application to wind up Prosper Marine
Photo credit: Manifold Times
Published: 30 December, 2020
Bunker tanker arrested at Singapore port on Friday (14 December) on 3.56 am (Singapore time).
IFO 380 exceeded ISO 8217:2010 for calcium, phosphorus and zinc; looking to claim total of $421,800.
Vessel formerly known as Bossoil 1 had unpaid bunker invoices totalling US $117,700 from March to June 2016.
Lawyers of Clyde & Co discuss key considerations for IMO 2020 JVs between ship owners and commodity firms.
UOB has started admiralty proceedings against 40 of Maersk Tankers’ ships for alleged misdelivery of cargo; informs it may take action against the vessels – unless security is provided.
Shell Eastern Investments’ liquidators file note on Government Gazette for creditors to submit their debts and claims before 5 July 2021.
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
Poll shows market participants think Singapore’s future as a bunkering hub in the near term will be impacted most by growth in alternative bunker fuels and intensifying competition from other ports in Asia.
