Singapore: Liquidators issue notice of intended dividend for Prosper Marine

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