The winding up applicant initiated by Petrolimex Singapore Pte Ltd (Petrolimex) against Singapore bunker supplier Brightoil Petroleum (S'pore) Pte Ltd (Brightoil) has progressed to a Pre Trial Conference (PTC) held under Section 211B of the Companies Act, learns Manifold Times.
Legal representatives of both parties were agreeable to the decision approved at Friday’s (14 December) hearing at the Singapore High Court; the PTC will be held on Wednesday (19 December).
In short, Section 211B of the Companies Act allows a Court to restrain proceedings, etc., against a company.
PTCs are largely private affairs held between legal representatives of parties; with media attendance usually restricted.
“At PTCs, the Registrar will usually seek an update on the status of an action,” according to information from the Singapore Supreme Court website.
“Directions will then be given for the parties to progress the action in an expeditious and fair manner e.g the filing of interlocutory applications and the timelines therein.
“An action may go through several PTCs. Parties who reach a settlement at a PTC may record the settlement before the Registrar. Otherwise, trial dates will be given for matters that cannot be settled.”
Brightoil’s legal representative, it an earlier session, highlighted parent company Brightoil Petroleum Holdings Limited working with the People's Bank of China to formulate a package for financing and debt optimisation adjustment plans.
Related: Singapore: Petrolimex owed over USD $30 million by Brightoil
Related: Petrolimex in winding up application against Brightoil at Singapore High Court
Other related: Singapore: Brightoil bunker creditor list growing with new firms
Other related: Singapore: Toyota Tsusho Corporation seeking $21 million from Brightoil
Other related: Qatar National Bank seeks USD $21.59 million debt from Brightoil
Other related: Singapore: Brightoil bunker tanker fleet placed under Sheriff’s arrest
Other related: Media clarification: Brightoil has settled Sea Trader International’s debt
Photo credit: Manifold Times
Published: 17 December, 2018
Program introduces periodic assessments, mass flow metering data analysis, and regular training for relevant key personnel to better handle the MFMS to ensure a high level of continuous operational competency.
U.S. Claims Register Summary recorded a total USD 833 million claim from a total 180 creditors against O.W. Bunker USA, according to the creditor list seen by Singapore bunkering publication Manifold Times.
Glencore purchased fuel through Straits Pinnacle which contracted supply from Unicious Energy. Contaminated HSFO was loaded at Khor Fakkan port and shipped to a FSU in Tanjong Pelepas, Malaysia to be further blended.
Individuals were employees of surveying companies engaged by Shell to inspect the volume of oil loaded onto the vessels which Shell supplied oil to; they allegedly accepted bribes totalling at least USD 213,000.
MPA preliminary investigations revealed that the affected marine fuel was supplied by Glencore Singapore Pte Ltd who later sold part of the same cargo to PetroChina International (Singapore) Pte Ltd.
‘MPA had immediately contacted the relevant bunker suppliers to take necessary steps to ensure that the relevant batch of fuel was no longer supplied. Further investigations are currently on-going,’ it informs.