• Follow Us On Our Preferred Social Media Platform:
News / Legal/ Vermont UM Bunkering makes winding up application at Singapore High Court

Vermont UM Bunkering makes winding up application at Singapore High Court

02 Sep 2019
news image

Former Singapore bunker supplier and bunker craft operator Vermont UM Bunkering Pte Ltd has made an application to the High Court of the Republic of Singapore to wind up the company, according to a legal document obtained by Manifold Times.

A pre-trial conference regarding the application filed on 19 July was heard at the Singapore court in the week ended 1 September 2019.

Business advisory firm FTI Consulting has been appointed a liquidator of the company.

A check conducted by Manifold Times on Monday (2 September) found Vermont UM Bunkering still registered as a ‘live company’ on Singapore’s Accounting and Corporate Regulatory Authority (ACRA) website.

MPA on April 2016 revoked the bunker supplier and bunker craft operator licences of Vermont Bunkering due to discrepancies and wrongful declarations in the records kept on board their bunker tankers. 

Following, the Directors of Vermont UM Bunkering were both charged by Singapore’s Corrupt Practices Investigation Bureau (CPIB) in November 2017 for cheating and criminal breach of trust offences under the Penal Code.

Earlier in 2018, Malayan Banking Berhad sought to liquidate a total USD $38.3 million under Mortgagee’s Claim from Vermont UM Shipping which is believed to be the owner and operator of the Angel SunAngel Star, Angel Moon and Ansheng.

The four bunkering tankers were arrested at Singapore port on 2 April, 2018.

In January 2019, creditor Goldsland Holdings Company Limited initiated a US $22.44 million claim from Vermont UM Bunkering; which was being defended by Directors of the latter.

Koh Seng Lee, the sole shareholder and executive director of Pacific Prime Trading (PPT), and also a Director of Vermont UM Bunkering is currently involved in the BP Singapore bunker trial.

RelatedSingapore-based Vermont UM Bunkering directors, staff charged for fraud
RelatedBank seeks $38 million from arrested Singapore bunker tankers
RelatedSingapore: Four bunker tankers arrested
RelatedGoldsland Holdings moves in to secure US $22 million from Vermont UM Bunkering
Related: Vermont UM Bunkering Directors plan to defend claims from Hong Kong firms
Other related: BP Singapore bunker trial: Former Ops Manager cross examined

Photo credit: Manifold Times
Published: 3 September, 2019

 

Our Industry Partners

RSS Fields