Winding up

Singapore: Ruchira Ships Limited winding up application to be heard on 12 January

Application for the winding up of Marshall Islands-registered Ruchira Ships Limited was filed by United Overseas Bank Limited (UOB) on 27 October, 2023, according to notice on Government Gazette.

Published

1 year ago

December 18, 2023

Admin

An application for the winding up of Marshall Islands-registered Ruchira Ships Limited was filed by United Overseas Bank Limited (UOB) on 27 October, according to a Friday (15 December) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Court sitting at the High Court at 2.30pm on 12 January 2024.

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 undersigned on payment of the regulated charge for the same.

The Applicant's address is 80 Raffles Place, UOB Plaza, Singapore 048624.

The Applicant's solicitors are Allen & Gledhill LLP of 1 Marina Boulevard, #28-00, One Marina Boulevard, Singapore 018989.

Note: Any person who intends to appear on the hearing of the winding up application must serve on or send by post to the abovenamed Allen & Gledhill LLP, Solicitors for the Claimant, notice in writing of his intention to do so. The notice must state the name and address of the person, or, if a firm, the name and address of the firm, and must be signed by the person, firm, or his or their solicitor (if any) and must be served, or, if posted, must be sent by post in sufficient time to reach the abovenamed not later than the 8th day of January 2024 (3 clear working days before the day appointed for the hearing of the winding up application).

According to Australian publication Countryman in August, a nine-year bareboat charter of the MV Ocean Drover could be the last clear run Wellard Limited has with the vessel after repurchasing attempts from Singapore-based Ruchira Ships proved to be unsuccessful.

Ruchira has reportedly been unable to pay back its loans to its bank, UOB, which holds the vessel title and won’t release it to Wellard, which has paid for the Drover in full with “no further expenses” anticipated.

Wellard executive chairman John Klepec reportedly said Ruchira must deliver unencumbered title to the vessel, “but has been unable to make appropriate arrangements with its bank, UOB, to provide the required discharges of mortgages registered against the Drover”.

On 5 November, Wellard, in a Australian Securities Exchange announcement, said it received a notification that UOB commenced winding up proceedings in Singapore against ship financiers, Ruchira Ships Limited.

The notification was received from Ruchira’s lawyers, who stated that they do not have any further information regarding the status of UOB’s winding up application.

As previously announced, Wellard has a long-term bareboat charter in place and the Company’s position is that the bareboat charter grants Wellard the right to continue to operate the Ocean Drover until 2032.

“Wellard will vigorously assert its legal rights in respect of the Drover. In the meantime, the vessel will continue to be operated by Wellard and offered for charter to Wellard’s customers,” the firm said.

Photo credit: Ekaterina Bolovtsova
Published: 18 December, 2023

Winding up

Singapore: Sasa Shipping Co Pte Ltd to be wound up voluntarily

Creditors of the company are required on or before 18 February 2025 to send in their names and address with particulars to firm’s liquidator at 60 Paya Lebar Road, #04-51, Paya Lebar Square, Singapore 409051.

Published

3 days ago

January 20, 2025

Admin

Several resolutions for Sasa Shipping Co Pte Ltd were made during an extraordinary meeting held on 15 January, according to a notice in the Government Gazette on Friday (17 January).

The meeting was held at 28 Biopolis Road, Wilmar International, Singapore 138568 at 11am.

The duly passed resolutions were:

Special Resolution

That the Company be wound up voluntarily pursuant to Section 160 (1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

Ordinary Resolutions

That Mr. Liew Khee Soon of 60 Paya Lebar Road, #04-51, Paya Lebar Square, Singapore 409051 be and is hereby appointed as Liquidator of the Company for the purpose of such winding-up.
That the Liquidator be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred or sustained by him in the execution and discharge of his duties in connection with the winding-up.

In another notice, it was stated that creditors of the company are required on or before 18 February 2025 to send in their names and address with particulars (if any) to the liquidator at 60 Paya Lebar Road, #04-51, Paya Lebar Square, Singapore 409051 and if so required by notice in writing from the said Liquidator, are to come in and prove their debts or claims at such time and place as shall be specified in the notice or in default will be excluded from the benefit of any distribution made before such debts or claims are proved.

Photo credit: Benjamin Child
Published: 20 January, 2025

Winding up

Singapore: Liquidator issue notice of intended dividend for Parakou Shipping

Creditors will need to produce proofs of debt to liquidator of Parakou Shipping by 24 January, according to Government Gazette notice.

Published

1 week ago

January 13, 2025

Admin

A notice to declare intended dividend of Parakou Shipping Pte Ltd to its creditors has been posted on the Government Gazette on Friday (10 January).

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

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)

Address of Registered Office : c/o KordaMentha, 16 Collyer Quay, #30-01, Singapore 049318

Last Day of Receiving Proofs : 24 January 2025 (if not already lodged)

Name of Liquidator : Cameron Duncan

Address : c/o KordaMentha, 16 Collyer Quay, #30-01, Singapore 049318

Photo credit: steve pb from Pixabay
Published: 13 January, 2025

Winding up

Singapore: Beluga Shipping and related companies to undergo members’ voluntary liquidation

Other companies that will undergo the liquidation process are Ibis Pacific Shipping, Mahuta Shipping, Orca Shipping, Petronia Pacific, Pulas Shipping and Sawara Shipping, according to a Government Gazette notice.

Published

2 weeks ago

January 7, 2025

Admin

Singapore-based Beluga Shipping Pte Ltd and its related companies will undergo members' voluntary liquidation following an Extraordinary General Meeting on 30 December, according to a Government Gazette notice published on Monday (6 January).

The other companies are:

Ibis Pacific Shipping Pte Ltd
Mahuta Shipping Pte Ltd
Orca Shipping Pte Ltd
Petronia Pacific Pte Ltd
Pulas Shipping Pte Ltd
Sawara Shipping Pte Ltd

The resolutions set out below were duly passed:

Special Resolutions

That the Company be wound up as a Members’ Voluntary Liquidation pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.
That the Liquidators may divide among the contributories in specie or kind the whole or any part of the assets of the Company.
That the Liquidators be authorised to exercise any or all of the powers provided under Section 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018.

Ordinary Resolution

That Goh Yeow Kiang Victor, Khor Boon Hong and Lee Yi Ying, Marie care of Baker Tilly Consultancy (Singapore) Pte Ltd, 600 North Bridge Road, #05-01 Parkview Square, Singapore 188778, be appointed joint and several Liquidators for the purpose of such liquidation.

Photo credit: Benjamin Child
Published: 7 January, 2025