Singapore: GC Oil Trading Pte Ltd to be wound up voluntarily

Several resolutions for GC Oil Trading Pte Ltd were made during an extraordinary meeting held on 13 December, according to a notice in the Government Gazette on Friday (20 December).

The meeting was held using virtual meeting technology. According to its website, the company claims to be in the oil bunkering business and is located at 18 Howard Road, #03-06 Novelty BizCentre, Singapore 369585.

The duly passed resolutions were:

As Special Resolutions

1. That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.
2. 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.
3. 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

4. That Mr Tan Eng Soon 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.
5. 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: 23 December, 2024