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Singapore: Creditors’ meeting planned for Ecospec Marine Technology

02 May 2023

The creditors’ meeting of Ecospec Marine Technology Pte Ltd, a maritime research and development firm formerly associated with Sembcorp Marine, has been organised by the liquidator, states a Thursday (27 April) notice posted on the Government Gazette. 

The meeting for creditors of the company will be held on 19 May 2023 at 3pm via video-conference and/or tele-conference.

The purposes of the meeting are:

  • To update on the liquidation administration;
  • To approve the use of all the funds in the Companies Liquidation Account for settlement of professional fees and liquidation expenses;
  • To approve the Liquidators’ fees and expenses;
  • To approve the appointment of solicitors for application of release and discharge from office and dissolution of the Company, and payment of legal fees and expenses;
  • To approve the Liquidators’ application to Court for release and discharge, and for dissolution of the company;
  • Any other matters.

To entitle you to attend, nominate and vote, the form of proxy must be lodged at the Liquidators’ office no later than 3pm on the 17 May 2023.

Manifold Times on 31 October 2019 reported Singapore-based Ecospec Marine Technology facing a winding up application from Finnish pulp and paper manufacturer Stora Enso OYJ due to its cSOx scrubber unit not meeting the acceptance criteria for the contract. 

Stora Enso, which filed the winding-up application at the High Court of the Republic of Singapore, was seeking approximately EUR 1.38 million (USD 1.54 million) from Ecospec due to the failed scrubber installation.

Related: Scrubber firm Ecospec Marine Technology faces liquidation suit from Stora Enso


Photo credit: Benjamin-Child
Published: 2 May, 2023

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