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Provisional liquidators appointed for additional Xihe Holdings subsidiaries

25 Jan 2022

Grant Thornton Singapore has appointed provisional liquidators for several Xihe Holdings subsidiaries, namely Da Guang Tankers (Pte) Ltd, Dafa Shipping (Pte) Ltd, Dong Jiang Tankers (Pte) Ltd, and Xin An Shipping (Pte) Ltd, according to a Government Gazette post on Friday (21 January).

The above Xihe Holdings subsidiaries could not continue operations as they are unable to pay their liabilities, it stated.

As such, an electronic meeting of creditors of the companies will be held on 10 February 2022 for the purpose of allowing the creditors to consider, and if thought fit, pass the resolutions set out below:

  1. To receive a full statement of the Company’s affairs together with a list of creditors and the estimated amount of their claims.
  2. To appoint liquidators.
  3. To consider the judicial managers’ remuneration and expenses as an expense of the winding-up.
  4. To be authorised to appoint solicitors to (i) assist the liquidators in the liquidators’ duties; and/or (ii) to bring or defend any action or legal proceeding in the name and on behalf of the Company.

Note: A copy of the detailed agenda for the meeting of creditors of the companies on the aforementioned date and time has been circulated to all known creditors of the companies via registered post and email. Any creditor of the companies who has not received the detailed agenda by this date is invited to contact the companies’ representatives at Ms. Gwee Hui Fang (huifang.gwee@sg.gt.com) and Ms. Ashley Shanti (ashley.shanti@sg.gt.com) where upon satisfactory verification, a copy of the detailed agenda will be provided.

Editor’s note: The liquidation process of other Xihe Holdings subsidiaries can be found from the link here.

 

Photo credit: steve pb from Pixabay
Published: 25 January, 2022

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