Connect with us

Winding up

Singapore: Liquidators issue notice of intended dividend for Prosper Marine

Singapore-based NSL OilChem Waste Management, the environmental services arm of SGX-listed NSL Ltd, filed for a winding up application against Prosper Marine in 2020.

Admin

Published

on

Resized benjamin child

A notice to declare intended dividend of local marine slop collection and disposal company Prosper Marine Pte Ltd to its creditors has been posted on the Government Gazette on Wednesday (28 May).

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

Name of Company : Prosper Marine Pte Ltd (In Liquidation)
Unique Entity No. / Registration No. : 200205509W
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 213/2020
Last Day for Receiving Proofs : 11 June 2025 at 5:00 pm by email to [email protected] /[email protected]
Name of Liquidators : Seshadri Rajagopalan and Paresh Tribhovan Jotangia
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Manifold Times previously reported on Singapore-based oil-and-chemical waste management player NSL OilChem Waste Management Pte Ltd (NOWM), the environmental services arm of SGX-listed NSL Ltd, filing for a winding up application against Prosper Marine on 24 November 2020. 

Later, Manifold Times reported the approval of the application. NOWM’s move to windup Prosper Marine came after a High Court Judge decision where it won claims in three suits (Suit 1062, Suit 853 and Suit 1048) against the defendant.

Suit 1062 relates to invoices issued by NOWM to Prosper Marine between June 2015 and October 2016 under the 2014 Contracts worth $6,429,105.74 before interest and $7,629,613.70 with interest (calculated up to 23 February 2017).

Suit 853 revolves around the sole issue whether the Prosper Directors are liable in their personal capacity for NOWM’s outstanding invoices. The Judge found the Prosper Directors jointly and severally liable for NOWM’s unpaid invoices, including 18% late payment interest. 

Suit 1048 concerns NOWM’s claim of $261,290.32 for its outstanding charter hire for the period between 27 May and 16 September 2016 as well as damages in respect of Prosper Marine’s breaches of the Charterparty with interest.

Related: NSL OilChem Waste Management makes application to wind up Prosper Marine
Related: NSL OilChem Waste Management application to wind up Prosper Marine approved

 

Photo credit: Benjamin Child
Published: 29 May, 2025

Continue Reading

Winding up

Singapore: High Court to hear Norvic Shipping Asia winding up application on 31 July

Application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to Government Gazette notice.

Admin

Published

on

By

RESIZED singapore high court

An application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to a Tuesday (21 July) 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 31 July.

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 solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is Hiridostraat 5, Gebouw Prismatrium, 1101CW Amsterdam, The Netherlands.

The Applicant’s solicitors are Oon & Bazul LLC of 103 Penang Rd, #04-04/05/06 Singapore 238467. 

Queries on the winding up application may be directed to the following email addresses: [email protected] and [email protected].

 

Photo credit: Manifold Times
Published: 22 July, 2026

Continue Reading

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Admin

Published

on

By

RESIZED Drew Beamer

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

  • That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

  • that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
  • that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
  • that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

Continue Reading

Winding up

Singapore: Liquidator of Nan Shan Maritime Pte Ltd issues notice of dividend

Third interim dividend to admitted unsecured claims of Nan Shan Maritime is payable from 15 July, according to Government Gazette notice.

Admin

Published

on

By

RESIZED Drew Beamer

A notice of dividend for Nan Shan Maritime Pte Ltd, which is currently in creditors’ voluntary liquidation, was published on the Government Gazette on Wednesday (15 July). 

The following are the details of the notice:

Name of Company : Nan Shan Maritime (Pte.) Ltd.(In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701967H
Address of Registered Office : 10 Anson Road, #10-10, International Plaza, Singapore 079903
Amount per centum : 5.00 Per Centum of all admitted unsecured, claims
First and Final or Otherwise : Third Interim
When Payable : 15 July 2026
Where Payable : Entitlements will be made by way of cheque.

 

Photo credit: Drew Beamer
Published: 16 July, 2026

Continue Reading

Trending