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Singapore: Creditors meeting for BrightOil tanker SPVs scheduled to take place in September

31 Aug 2021

A creditors meeting for several special purpose vehicles (SPVs) ultimately under Brightoil Petroleum (Holdings) Limited is scheduled to take place on 10 September at (1) 3:00pm (2) 3:30pm, (3) 4:00pm, (4) 4:30pm, (5) 5:00pm and (6) 5:30pm respectively, according to a Monday (30 August) notice on the Government Gazette.

The meetings will discuss the affairs of Brightoil 319 Oil Tanker Pte Ltd, Brightoil 326 Oil Tanker Pte Ltd, Brightoil 329 Oil Tanker Pte Ltd, Brightoil 639 Oil Tanker Pte Ltd, Brightoil 666 Oil Tanker Pte Ltd, and Brightoil 688 Oil Tanker Pte Ltd.

The agenda of the meetings will be for:

  • receiving a statement of the Company’s affairs together with a list of creditors and the estimated amounts of their claims; 
  • appointing liquidator; 
  • appointing a committee of inspection of not more than 5 members, if thought fit and
  • any other business

Attendance by video conference: 

In compliance with Covid-19 (Temporary Measures) Act 2020 and the Covid-19 (Temporary Measures) (Alternative Arrangements for Meetings) (Corporate Insolvency) Order 2020, creditors may attend the meeting by way of video conference via Zoom by submitting a General Proxy or Special Proxy form and including the details of the proxy to us by way of email to shuozhen@acresadvisory.com  before 4:00 p.m. on the day before the meeting.

An earlier report regarding the above development can be found below:

Related: Singapore: BrightOil Director declares oil tanker SPVs unable continue business

Earlier developments of Brightoil (since late 2017 to date) can be found in the search results here.

 

Photo credit: Drew Beamer
Published: 31 August, 2021

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