ExxonMobil Asia Pacific Pte. Ltd., a supplier of marine fuels at Singapore port, is in the midst of a bunker claim against international bunker trading firm GP Global APAC Pte. Ltd. at the High Court of the Republic of Singapore, learned Manifold Times.
It is seeking a total bunker claim of USD 2.8 million (exact: USD 2,824,009.42) from 13 invoices; seven are under a Term Sales Contract entered on 30 April 2020 and six are under Spot Contracts, according to documents obtained by the Singapore bunkering publication from the court.
The USD 2.8 million is after deduction from the original bunker claim of USD 3.2 million, which GP Global APAC has made an earlier partial payment of USD 405,968 towards one invoice.
Lawyers representing both parties will be present at a pre-trial conference on 29 October, 2020 to present their respective cases.
GP Global has lately been under the spotlight due to several issues.
A list of earlier coverage by Manifold Times regarding GP Global can be found below:
Related: Restructuring advisor flags up ‘accounting irregularities’ in GP Global books
Related: Gulf Petrol Supplies files complaint against GP Global unit for fraudulent behavior
Related: Second arrest warrant issued for GP Global’s ‘GP B3’ over outstanding bills from creditors
Related: GP Global considering sale of assets in an effort to repay creditors
Related: GP Global tanker ‘GP B3’ detained in India due to loan defaults with creditors
Related: Argus Media: GP Global clarifies that it has shut only lesser performing trading desks
Related: Argus Media: GP Global rules out asset sales in restructuring
Related: GP Global engages restructuring specialists following credit pull and internal fraud
Related: GP Global internal investigations reveal Sharjah and Fujairah staff involved with fraud
Related: GP Global repudiates rumours and proceeds with restructuring as strategic move
Photo credit: Manifold Times
Published: 28 October, 2020
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