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Winding up

Singapore: Director of Teras Lyza declares firm’s inability to continue business due to liabilities

Ramalingam S/O Ramalingam, director of Teras Lyza Pte Ltd, made and lodged with the Official Receiver a statutory declaration stating the firm cannot by reason of its liabilities continue its business.

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Barges, tugboats and bumboats operators and charterers Teras Lyza Pte Ltd director, Mr. Ramalingam S/O Ramalingam @ Kamal Deen Bin Abdullah, on Friday (16 February) made and lodged with the Official Receiver a statutory declaration, according to notices published on the Government Gazette on 26 February.

The statutory declaration by the director stated that:

  1. I am a director of the abovenamed company;
  2. The abovenamed company cannot by reason of its liabilities continue its business; and
  3. The meetings of the abovenamed company and of its creditors have been summoned for the 8th day of March 2024, being a date within one month of the date of this Statutory Declaration.

In another notice, Messrs. Ng Kian Kiat and Goh Wee Teck care of 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095 have been appointed as joint and several Provisional Liquidators of the company on the 16 February.

In a third notice, a meeting of the creditors of the company will be held at 8 Wilkie Road #03-08 Wilkie Edge Singapore 228095 through an audio-visual conference on the 8 March 2024 at 2.30 pm for the purposes of:

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

 

Photo credit: Benjamin child
Published: 27 February, 2024

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Winding up

Singapore: Annual general meetings scheduled for Xihe Holdings subsidiary

Annual general meetings will be held on 26 April for Xin Bo Shipping to receive an update on firm’s liquidation, according to Government Gazette notice.

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A notice was published on the Government Gazette on Thursday (11 April) regarding the annual general meetings to be held on 26 April for Xihe Holdings subsidiary Xin Bo Shipping (Pte) Ltd.

Annual general meetings for Xin Bo Shipping are to be held at the following times:

For the company: 2pm
For the creditors: 3pm

The agenda for all the meetings are:

  1. To receive an update on the liquidation.
  2. To receive an account of the Liquidators’ acts and dealings, and of the conduct of the winding up.

The following are the details of the liquidator:

Ho May Kee
Liquidator
c/o 8 Marina View
#40-04/05 Asia Square Tower 1
Singapore 018960

Xihe Holdings Pte Ltd and its subsidiaries are owned by the Lim family, who are also the owners of the embattled Hin Leong Trading.

Related: Singapore: Xihe Holdings subsidiaries Xin Bo Shipping, An Guang Shipping to be wound up
Related: Singapore: Creditors to file debt claims for Xin Bo Shipping by 14 June
Related: Xihe Holdings subsidiary Xin Bo Shipping placed under judicial management
Related: JMs of An Guang Shipping and other Xihe subsidiaries call for creditors meeting

 

Photo credit: Jo_Johnston from Pixabay
Published: 12 April 2024

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Winding up

Singapore: White Flag Ventures XXXIII to undergo voluntary wind up

A liquidator was appointed for the company at an extraordinary general meeting held on 28 March, according to Government Government notice.

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RESIZED Drew Beamer

Several resolutions for White Flag Ventures XXXIII Pte Ltd were made during an extraordinary meeting held on 28 March, according to a post in the Government Gazette on Thursday (4 April).

The meeting was held at 10 Collyer Quay, #29-01/05 Ocean Financial Centre, Singapore 049315.

The duly passed resolutions were:

As Special Resolutions

  • That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.That pursuant to Sections 177(1)(a) and 177(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018, the Liquidator be and is hereby authorised to exercise any or all of the powers given to a Liquidator by Sections 144(1)(b), (c), (d), (e), (f), (g) and 144(2) of the Insolvency, Restructuring and Dissolution Act 2018.
  • That the appointed Liquidator be and is hereby authorised to divide all or such part of the surplus assets of the Company as he shall think fit among the shareholders of the Company in specie or otherwise, in accordance with their existing rights and interests.

As Ordinary Resolutions

  • That Mr Ng Hoe Kiat Keith c/o 7500A Beach Road, #05-303/304 The Plaza, Singapore 199591 be and is hereby appointed as Liquidator for the purpose of winding-up.
  • That the remuneration of the Liquidator be based on his normal scale of professional fees plus disbursements and that the Liquidator’s fees be paid out of the assets of the Company.

 

Photo credit: Drew Beamer
Published: 9 April 2024

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Legal

Singapore: Notice to prove debt or claim issued for Ruchira Ships

Liquidators invited creditors to prove their debts or claims against the company by
submitting a proof of debt, together with all supporting documents, according to notice.

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A notice in the Government Gazette was published on Friday (4 December) by the Joint and Several Liquidators of Ruchira Ships Limited for creditors to prove any debts or claims against the company. 

The liquidators invited creditors to prove their debts or claims against the Company by submitting a proof of debt, together with all supporting documents, via the KPMG Singapore Creditors Central Portal at https://ccp.kpmg.com

The claims should be filed no later than 6 May 2024. 

Manifold Times previously reported the High Court of Singapore on 12 January issuing a winding up order to Ruchira Ships Limited, according to a 26 January notice on the Government Gazette.

The winding up order against Marshall Islands-registered Ruchira Ships Limited was filed by United Overseas Bank Limited (UOB) on 27 October.

Note: Should you require assistance, please contact the Liquidators of the Company at [email protected].

Related: Singapore: High Court issues winding up order to Ruchira Ships Limited
Related: Singapore: Ruchira Ships Limited winding up application to be heard on 12 January 

 

Photo credit: Scott Graham on Unsplash
Published: 8 April 2024

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