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Singapore: Judicial managers of Hontop Energy publish call for a creditors meeting

22 Oct 2020

RSM Corporate Advisory Pte Ltd, the judicial managers of Hontop Energy Pte Ltd (Hontop), on Wednesday (21 October) published a notice in the Government Gazette calling for a creditors meeting.

An application was filed by CIMB Bank Singapore for Hontop to be placed under judicial management in June as the bank looked to recover USD 105 million from Hontop and accused the company of fraudulent conduct. 

According to the notice, the meeting for Hontop’s creditors is to be held electronically on Thursday (5 November) at 3.00 pm.

 The agenda of the meeting is stated to be:

  •   To update on the status of Judicial Management;
  •   approve the costs of the interim judicial management and judicial management (including legal costs)
  •   Any other business.

To entitle creditors to vote at the meeting, creditors must lodge their proxy and proof with the Judicial Managers no later than 4.00 pm on Wednesday (4 November) if they have not done so already.

Related: Hontop Energy placed under judicial management over fraudulent conduct accusations
Related: CIMB requests for Hontop Energy restructuring amid suspicious transactions with BP
Related: Argus Media: Hontop Energy fraud allegations add to Singapore trading woes
Related: BP Singapore oil traders on leave over being named in Hontop Energy fraud allegations


Photo credit: Stevepb

Published: 22 October, 2020

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