Skip to content

Singapore: Company and creditors’ meeting scheduled for Prosper Marine Pte Ltd

  • Published
  • by Admin
Singapore-based NSL OilChem Waste Management, the environmental services arm of SGX-listed NSL Ltd, filed for a winding up application against Prosper Marine in 2020 after it won claims in three suits.
RESIZED Jo_Johnston from Pixabay

The company and creditors’ meeting of local marine slop collection and disposal company Prosper Marine Pte Ltd, has been scheduled to take place on 30 September, states a Friday (22 August) notice posted on the Government Gazette. 

The meeting for the company and creditors will be held by way of electronic means at 3pm. 

The purposes of the meeting are:

  • To receive an account from the liquidators showing the manner in which the winding-up has been conducted, and 
  • the property of the Company has been disposed of and to hear any explanation of the account.

Manifold Times previously reported on Singapore-based oil-and-chemical waste management player NSL OilChem Waste Management Pte Ltd (NOWM), the environmental services arm of SGX-listed NSL Ltd, filing for a winding up application against Prosper Marine on 24 November 2020. 

Later, Manifold Times reported the approval of the application. NOWM’s move to windup Prosper Marine came after a High Court Judge decision 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.

Related: Singapore: Liquidators issue notice of intended dividend for Prosper Marine
Related: NSL OilChem Waste Management makes application to wind up Prosper Marine
Related: NSL OilChem Waste Management application to wind up Prosper Marine approved

 

Photo credit: Jo_Johnston from Pixabay
Published: 25 August, 2025

Related Topics:

Related Posts