Singapore-registered Somerset Maritime Pte Ltd and related companies will voluntarily wind up following an Extraordinary General Meeting on 30 June, according to a Government Gazette notice published on Thursday (10 June).

In August 2020, HSBC reportedly arrested two product tankers owned by Somerset Maritime over cargo claims totalling USD 6 million. HSBC filed cargo claims worth USD 3 million against each vessel.

The resolutions set out below were duly passed:

SPECIAL RESOLUTIONS

• VOLUNTARY WINDING UP

RESOLVED THAT the company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (“IRDA”).

• POWER OF LIQUIDATOR

RESOLVED THAT the Liquidator be authorised to exercise any of his power given by Section 177 of the IRDA and to distribute to member(s) either in cash or in specie any part or all of the surplus assets of the Company, if any.

ORDINARY RESOLUTION

• APPOINTMENT OF LIQUIDATOR

RESOLVED THAT Mr Junichi Naganawa be and is hereby appointed Liquidator for the purpose of winding up the affairs of the Company and distributing the assets, if any and that his remuneration be fixed on the usual scale of his professional charges for the work involved.

In another notice, the liquidator of the company said creditors are required on or before 9 August 2025 to send in their names and addresses with particulars (if any) to liquidator at 18 Robinson Road, #20-02 18 Robinson, Singapore 048547.

The liquidator may require creditors or their solicitors to “come in and prove their said debts or claims at such time and place as shall be specified in such notice or in default thereof, they will be excluded from the benefit of any distribution made before such debts are proved.”

Photo credit: steve pb from Pixabay
Published: 15 July, 2025

Several resolutions for Tiger LNG Shipping Pte Ltd were made during an extraordinary general meeting held on 30 June, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

AS SPECIAL RESOLUTIONS

Resolved:

• That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018, and that Mr Lum Chi Lup Benny of 190 Middle Road, #17-05 Fortune Centre, Singapore 188979, be and is hereby appointed as Liquidator for the purpose of such winding-up;
• That the Liquidator be and is hereby authorised (when and as soon as the debts and liabilities of the Company have been paid and satisfied or duly provided for) to distribute the assets in specie or kind among the contributories of the Company in accordance with their respective rights and interests; and
• That the Liquidator of the Company be and is hereby authorised to exercise any of the powers given by Sections 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018.

AS ORDINARY RESOLUTIONS

Resolved:

• That the Liquidator, Mr Lum Chi Lup Benny be remunerated for the work of winding-up the Company on his normal scale of fees and that the Liquidator be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred or sustained by him in the execution and discharge of his duties in relation thereto.
• That pursuant to Section 195(2) of the Insolvency, Restructuring and Dissolution Act 2018, the books, accounts and documents of the Company and those of the Liquidator shall be retained for a period of 5 years after the dissolution of the Company and, at the expiration of that period, the documents may be destroyed.

Photo credit: Drew Beamer
Published: 7 July, 2025

A notice to declare intended dividend of collapsed Singapore-based oil trading firm Xihe Holdings Pte Ltd to its creditors has been posted on the Government Gazette on Thursday (3 July).

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

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

Name of Company : Xihe Holdings (Pte) Ltd (In Liquidation)
Unique Entity No. / Registration No. : 199002021M
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Court : High Court of Singapore
Number of Matter : HC/CWU 40/2022
Last Day for Receiving Proofs : 17 July 2025 at 5:00 pm by email to [email protected]
Name of Liquidators : Seshadri Rajagopalan, Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management
Related: Xihe Holdings files for judicial management and winding up of Xihe Capital subsidiaries

Photo credit: steve pb from Pixabay
Published: 4 July, 2025