Winding up

Singapore: High Court to hear oil trader Hontop Energy winding up application

Application for the winding up of Hontop Energy (Singapore) Pte Ltd was filed by joint and several judicial managers of the company on 30 October, according to Government Gazette notice.

Published

1 month ago

December 2, 2024

Admin

An application for the winding up of Hontop Energy (Singapore) Pte Ltd was filed by joint and several judicial managers of the company on 30 October, according to Friday (29 November) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 21 January.

Hontop Energy was one of four Singapore-based trading companies to have collapsed in 2020, together with oil traders Hin Leong and Zenrock and coal trading firm Agritrade. Hontop, which went into receivership in February, is fully owned by Chinese private-sector firm Wanda whose group assets include the 100,000 b/d Tianhong independent refinery in Shandong province.

It was previously reported that the High Court of Singapore approved Malaysian bank CIMB’s application for Hontop Energy, the trading arm of Chinese independent refiner China Wanda Holding Group Co Ltd, to be placed under judicial management.

According to the filing at the time, CIMB is looking to recover USD 105 million that it has lent to the company and Hontop owes approximately USD 470 million to seven creditors.

Lin Yueh Hung and Oon Su Sun of RSM Corporate Advisory Pte Ltd were nominated to act as the judicial managers.

According to the Government Gazette notice, any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the undersigned on payment of the regulated charge for the same.

The Applicant's address is 8 Wilkie Road #03-08 Wilkie Edge, Singapore 228095.

The Applicant's solicitors are Rajah & Tann Singapore LLP of 9 Straits View #06-07 Marina One West Tower, Singapore 018937.

Note: Any person who intends to appear on the hearing of the winding up application must serve on or send by post to the abovenamed RAJAH & TANN SINGAPORE LLP, the Claimant’s Solicitors, notice in writing of his intention to do so. The notice must state the name and address of the person, or, if a firm, the name and address of the firm, and must be signed by the person, firm, or his or their solicitor (if any). Unless otherwise directed by the Court, the notice must be served and, if sent by post, must be posted in such sufficient time as in the ordinary course of post to reach the abovenamed at least 3 clear working days before 20 January 2025 (the day before the day appointed for the hearing of the application).

Photo credit: Manifold Times
Published: 2 December, 2024

Winding up

Singapore: Liquidator issue notice of intended dividend for Parakou Shipping

Creditors will need to produce proofs of debt to liquidator of Parakou Shipping by 24 January, according to Government Gazette notice.

Published

2 days ago

January 13, 2025

Admin

A notice to declare intended dividend of Parakou Shipping Pte Ltd to its creditors has been posted on the Government Gazette on Friday (10 January).

The following are the details of the notice of intended dividend for the first dividend:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)

Address of Registered Office : c/o KordaMentha, 16 Collyer Quay, #30-01, Singapore 049318

Last Day of Receiving Proofs : 24 January 2025 (if not already lodged)

Name of Liquidator : Cameron Duncan

Address : c/o KordaMentha, 16 Collyer Quay, #30-01, Singapore 049318

Photo credit: steve pb from Pixabay
Published: 13 January, 2025

Winding up

Singapore: Beluga Shipping and related companies to undergo members’ voluntary liquidation

Other companies that will undergo the liquidation process are Ibis Pacific Shipping, Mahuta Shipping, Orca Shipping, Petronia Pacific, Pulas Shipping and Sawara Shipping, according to a Government Gazette notice.

Published

1 week ago

January 7, 2025

Admin

Singapore-based Beluga Shipping Pte Ltd and its related companies will undergo members' voluntary liquidation following an Extraordinary General Meeting on 30 December, according to a Government Gazette notice published on Monday (6 January).

The other companies are:

Ibis Pacific Shipping Pte Ltd
Mahuta Shipping Pte Ltd
Orca Shipping Pte Ltd
Petronia Pacific Pte Ltd
Pulas Shipping Pte Ltd
Sawara Shipping Pte Ltd

The resolutions set out below were duly passed:

Special Resolutions

That the Company be wound up as a Members’ Voluntary Liquidation pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.
That the Liquidators may divide among the contributories in specie or kind the whole or any part of the assets of the Company.
That the Liquidators be authorised to exercise any or all of the powers provided under Section 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018.

Ordinary Resolution

That Goh Yeow Kiang Victor, Khor Boon Hong and Lee Yi Ying, Marie care of Baker Tilly Consultancy (Singapore) Pte Ltd, 600 North Bridge Road, #05-01 Parkview Square, Singapore 188778, be appointed joint and several Liquidators for the purpose of such liquidation.

Photo credit: Benjamin Child
Published: 7 January, 2025

Winding up

Singapore: Atlantic Acapulco and related firms enter voluntary liquidation, select liquidators

Other companies that will undergo the liquidation process are Atlantic Altamira (2020), Atlantic Maya and Atlantic Monterrey, according to a Government Gazette notice.

Published

1 week ago

January 7, 2025

Admin

Atlantic Acapulco Pte Ltd and its related companies will undergo members' voluntary liquidation following an Extraordinary General Meeting on 30 December, according to a Government Gazette notice published on Monday (6 January).

The other companies are:

Atlantic Altamira (2020) Pte Ltd
Atlantic Maya Pte Ltd
Atlantic Monterrey Pte Ltd

The resolutions set out below were duly passed:

Special Resolutions

That the Company be wound up as a Members’ Voluntary Liquidation pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.
That the Liquidators may divide among the contributories in specie or kind the whole or any part of the assets of the Company.
That the Liquidators be authorised to exercise any or all of the powers provided under Section 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018.

Ordinary Resolution

That Goh Yeow Kiang Victor, Khor Boon Hong and Lee Yi Ying, Marie care of Baker Tilly Consultancy (Singapore) Pte Ltd, 600 North Bridge Road, #05-01 Parkview Square, Singapore 188778, be appointed joint and several Liquidators for the purpose of such liquidation.

According to SGP Business website, Atlantic Acapulco’s principal activity is in shipping, including chartering of ships and boats with crew.

Photo credit: Drew Beamer
Published: 7 January, 2025