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Provisional liquidators appointed for Xihe subsidiaries, call for creditor’s meeting

20 May 2021

Notices were published on the Government Gazette on Wednesday (19 May) regarding the appointment of provisional liquidators and scheduled credit meetings for several Xihe Holdings subsidiaries.

Directors of the following companies on 6 May declared the entities were unable to continue business due to their liabilities. The firms are:

  • Dong Fang Shipping & Trading (Pte) Ltd.
  • Hua An Shipping Pte. Ltd.
  • Nan Hai Maritime (Pte.) Ltd.
  • Nan Sia Maritime (Pte.) Ltd.
  • Xin Ya Shipping & Trading (Pte) Ltd.
  • Hua Kang Shipping Pte. Ltd.

Due to the development, Paresh Jotangia and Ho May Kee of Grant Thornton Singapore Private Limited c/o 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 have been appointed joint and several provisional liquidators of the abovenamed companies on 6 May.

An electronic meeting of creditors of the companies will be held on 3 June 2021 for the purpose of the following:

  • To receive a full statement of the Company’s affairs together with a list of creditors and the estimated amount of their claims.
  • To appoint liquidators.
  • To consider the judicial managers’ remuneration and expenses as an expense of the winding-up.
  • 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

A copy of the detailed agenda for the meeting of creditors of various firms has been circulated to all known creditors via registered post and email.

Any creditor of the companies who has not received the detailed agenda by 3 June is invited to contact the Company’s representatives at Ms. Gwee Hui Fang ([email protected]) and Ms. Yuen Wong ([email protected]) where upon satisfactory verification, a copy of the detailed agenda will be provided.

Related: JMs of An Guang Shipping and other Xihe subsidiaries call for creditors meeting
Related: Grant Thornton Singapore appointed interim judicial managers for Xihe subsidiaries
Related: Xihe Holdings supervisor to place seven tankers for sale in an attempt to repay creditors

 

Photo credit: Steve Buissinne from Pixabay
Published: 20 May, 2021

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