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Singapore: Provisional liquidators appointed for Xin Chun Shipping, Xin Dun Shipping

10 May 2022

Notices were published on the Government Gazette on Monday (9 May) regarding the appointment of provisional liquidators and scheduled credit meetings for two Xihe Holdings subsidiaries.

Directors of the following companies on 25 April declared the entities were unable to continue business due to their liabilities. The firms are:

  • Xin Chun Shipping (Pte) Ltd
  • Xin Dun Shipping (Pte) Ltd

Paresh Jotangia and Ho May Kee of Grant Thornton Singapore Private Limited c/o 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 have been appointed joint and several provisional liquidators of the abovenamed companies on 25 April.

An electronic meeting of creditors of the companies will be held on the 24 May 2022 at 10am (Xin Chun) and 10.30am (Xin Dun) for the purpose of the following: 

  • To receive a full statement of the Company’s affairs together with a list of
  • creditors and the estimated amount of their claims.
  • To appoint liquidators.
  • To consider the judicial managers’ remuneration and expenses as an expense of the winding-up.
  • To be authorised to appoint solicitors to (i) assist the liquidators in the liquidators’ duties; and/or (ii) to bring or defend any action or legal proceeding in the name and on behalf of the Company

A copy of the detailed agenda for the meeting of creditors of various firms on the aforementioned date and time has been circulated to all known creditors via registered post and email.

Any creditor of the Company who has not received the detailed agenda by this date is invited to contact the companies’ representatives at Ms. Gwee Hui Fang (huifang.gwee@sg.gt.com) and Ms. Ashley Shanti (ashley.shanti@sg.gt.com) where upon satisfactory verification, a copy of the detailed agenda will be provided.

Related: JMs: First creditors meeting of Xihe Holdings subsidiaries to be held in January 2021
Related: Liquidator: Da Shun Shipping Pte Ltd winding up application to be heard at High Court
Related: Singapore: High Court to hear Xihe Holdings winding up application on 24 March
Related: Xihe Holdings liquidators request scheme creditors to submit proof of debt
Related: Xihe Holdings files for judicial management and winding up of Xihe Capital subsidiaries
Related: Judicial Managers of Xihe Holdings and subsidiaries call for first creditors meeting
Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management
Related: Singapore court to consider judicial management of Xihe Holdings and subsidiaries
Related: Xihe Holdings placed under IJM as OCBC reverses decision for ‘consensual restructuring’
Related: Xihe replaces Directors, forms new management team to chart fresh course for Group
Related: Xihe creditors adjourn court proceedings in favour of consensual restructuring
Related: OCBC files for Xihe Holdings to be placed under judicial management


Photo credit: Benjamin-Child
Published: 10 May, 2022

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