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Singapore: Brightoil bunker creditor list growing with new firms

13 Dec 2018

The creditor list of Brightoil Petroleum (S'pore) Pte Ltd (Brightoil), the Singapore subsidiary of Hong Kong listed Brightoil Petroleum (Holdings) Limited is expected to grow.

Bunkering firms Global Energy Trading Pte Ltd and NewOcean Fuel (Singapore) Pte Ltd will be submitting respective applications for claims at the High Court of Singapore on Friday (14 December).

Consort Bunkers Pte Ltd, meanwhile, is coming in as an intervener to join the ongoing litigation for claims.

It is unclear how much the above parties are seeking from Brightoil.

Toyota Tsusho Corporation, Petrolimex Singapore Pte Ltd and Qatar National Bank are respectively seeking USD $21 million, over USD $30 million, and USD $21.59 million (totalling $72.59 million) from Brightoil.

Brightoil Petroleum Holdings Limited has stated it is working with a lead bank under the overall guidance and coordination lead by the People's Bank of China to formulate a package for financing and debt optimisation adjustment plans.

Related: Singapore: Toyota Tsusho Corporation seeking $21 million from Brightoil
RelatedSingapore: Petrolimex owed over USD $30 million by Brightoil
RelatedQatar National Bank seeks USD $21.59 million debt from Brightoil

Other relatedSingapore: Brightoil bunker tanker fleet placed under Sheriff’s arrest
Other relatedMedia clarification: Brightoil has settled Sea Trader International’s debt

Photo credit: Manifold Times
Published: 13 December, 2018

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