Connect with us

Legal

Singapore: Inter-Pacific Group receives winding up order from High Court

IPG is the parent firm of former Singapore bunker fuel supplier and bunker craft operator Inter-Pacific Petroleum which had respective licences revoked by the MPA.

Admin

Published

on

Inter Pacific by Manifold Times

Inter-Pacific Group Pte Ltd (IPG), the parent firm of former Singapore bunker supplier and bunker craft operator Inter-Pacific Petroleum, has received a winding up order from the High Court of the Republic of Singapore on 27 March, according to the Government Gazette on Thursday (9 April).

All creditors of Inter-Pacific Group should file their proof of debt with the Liquidators who will be administering all affairs of the company, said the public notice.

All debts due to the company should be also forwarded to the Liquidators.

Names and address of Liquidators are:

Mr Lim Loo Khoon & Mr Tan Wei Cheong
c/o Deloitte & Touche LLP
6 Shenton Way
OUE Downtown 2 #33-00
Singapore 068809

IPG filed a winding up application at the High Court of the Republic of Singapore on 2 March.

A timeline organised list of events preceding the current development have been recorded by Manifold Times below:

Related: Singapore: Inter-Pacific Group files for winding up application at High Court
Related: MPA revokes Inter-Pacific Petroleum Pte Ltd bunker supplier licence
Related: Co-heads of Trade and Commodities Finance for Asia-Pacific leave SocGen
Related: Inter-Pacific Group, Inter-Pacific Petroleum to hold creditors’ meet
Related: NewOcean detains Singapore-flagged bunker tanker “Pacific Energy 28”
Related: SocGen lawsuit against NewOcean Petroleum dropped, party to counterclaim
Related: MPA revokes Inter-Pacific Petroleum bunker craft operator licence
Related: Magnets on MFMs: Trial starts for former bunker clerk of “Consort Justice
Related: First suspect charged over MFM tampering in landmark case
Related: With nearly $180 million of debt, IPP proposes interim judicial management
Related: Inter-Pacific Group, Inter-Pacific Petroleum under judicial management
Related: Magnets on MFMs: “Consort Justice” crew pleads ‘not guilty’ to tampering charge
Related: IPP responds to temporary suspension of bunker craft operator licence
Related: MPA temporarily suspends IPP bunker craft operator licence
Related: Singapore: Bunker Cargo officer, crew face charges over alleged MFM tampering


Photo credit:
Manifold Times
Published: 13 April, 2020

Continue Reading

Legal

Trafigura subsidiary’s employee named among suspects in Pertamina corruption case

Indonesia’s AGO reportedly named new suspects including the former Business Development Manager at PT Trafigura, the commodities group’s Indonesian subsidiary, who was only identified as “MH”.

Admin

Published

on

By

Pertamina

An employee at an Indonesian subsidiary of commodities group Trafigura was named as a suspect among nine people in a corruption case involving state-owned oil giant PT Pertamina, according to several news reports. 

On 10 July, Indonesian Attorney General’s Office (AGO) reportedly named the new suspects including the former Business Development Manager at PT Trafigura, who was only identified as “MH”, in an investigation into alleged mismanagement and corruption between 2018 and 2023 that the AGO has said resulted in losses of Rp285 trillion (USD 17.6 billion) to the state. This is a jump from the previously reported USD 12 billion, which has since been revised by the AGO. 

According to Reuters, Trafigura said the employee has been cooperating with the authorities. 

“We understand that the employee has been recently named a suspect in an investigation involving PT Pertamina,” a Trafigura spokesperson said in an email.

The company added it is providing appropriate legal representation to the employee and is awaiting further details about the specific allegations.

Manifold Times previously reported Singapore-based trading companies were reached out by Indonesian authorities to seek their cooperation in the corruption investigation.

According to several people who received or saw the invitation, who wished to remain anonymous, the oil traders received notices earlier this month, requesting them to assist the office of Indonesia’s Attorney General by providing answers on overall governance and past transactions. 

Related: Indonesia seeks cooperation of Singapore traders in USD 12 billion Pertamina probe

 

Photo credit: Pertamina
Published: 16 July 2025

Continue Reading

Winding up

Singapore: Somerset Maritime Pte Ltd to undergo voluntary wind up, selects liquidator

Creditors are required on or before 9 August 2025 to send in their names and addresses with particulars to liquidator at 18 Robinson Road, #20-02 18 Robinson, Singapore 048547.

Admin

Published

on

By

calculator steve pb from Pixabay

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

Continue Reading

Incident

India: MSC faces USD 1.1 billion lawsuit from Kerala state over “MSC ELSA 3” bunker spill

Reports noted approximately 84 mt of diesel and 376 mt of fuel oil on board the stricken vessel when it sank carrying 643 boxes.

Admin

Published

on

By

MSC Elsa 3 MT

Swiss-based Mediterranean Shipping Company (MSC) is reportedly facing a USD 1.1 billion lawsuit from India’s southern state of Kerala which is seeking compensation over marine fuel leaked from MSC ELSA 3 into the Arabian Sea in May.

The High Court of Kerala on Monday (7 July) ordered authorities to seize containership MSC Akiteta II which was anchored in Vizhinjam Port until securities for the claim amount are deposited.

The 1,700 TEU capacity containership MSC ELSA 3 was sailing from Vizhinjam to Kochi when failure in its ballast management system caused it to sink on 25 May about 13 nautical miles off the coast of Kerala.

Reports noted approximately 84 metric tonnes (mt) of diesel and 376 mt of fuel oil on board the stricken vessel when it sank carrying 643 boxes.

 

Photo credit: Indian Ministry of Defence
Published: 9 July 2025

Continue Reading
Advertisement

OUR INDUSTRY PARTNERS



Trending