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Xihe Holdings files for judicial management and winding up of Xihe Capital subsidiaries

05 Jan 2021

Two notices were published in the Government Gazette on Monday (4 January) regarding an application by Xihe Holdings to place the following Xihe Capital Pte Ltd subsidiaries under judicial management and for the winding up of the following companies.

The companies included in the published notices are: 

  • An Ding Shipping Pte Ltd
  • Nan Jin Maritime Pte Ltd
  • An Wei Shipping Pte Ltd
  • An Rong Shipping Pte Ltd
  • Da Hai Shipping Pte Ltd
  • An Shun Shipping Pte Ltd
  • Da Shun Shipping Pte Ltd
  • Nan Fang Maritime Pte Ltd

According to the first notice, the applications were made by Xihe Holdings on 20 October, 2020 as a creditor of the above companies.

The said applications are scheduled to be heard at Court on Wednesday, 20 January 2021 at 10.00 am, and Seshadri Rajagopalan and Paresh Tribhovan Jotangia of Grant Thornton Singapore Pte. Ltd. have been nominated as the joint and several judicial managers of each of the above-named companies.

Anyone who intends to oppose the making of orders, or the nomination of a judicial manager may appear at the hearing or by his solicitor. A copy of the relevant application(s) and its supporting affidavit will be furnished to any creditor or member of any of the above-named companies requiring them by the undersigned on payment of the reasonable charge. 

According to the second notice, the winding up order was filed by Xihe Holdings on 30 October, 2020 as a creditor of the companies; Xihe Holdings is also currently under judicial management.

Similarly, the applications have been scheduled to be heard at Court on Wednesday, 20 January 2021 at 10.00 am.

Any creditor or contributory of any of the above-named companies who wishes to support or oppose the making of orders on the winding up applications may appear at the time of hearing by himself or his counsel.

A copy of the relevant winding up applications will be furnished to any creditor or contributory of any of the above-named companies requiring the copy of the relevant winding up applications by the undersigned on payment of the regulated charge for the same.

Additionally, anyone who intends to appear at the hearing of the applications must submit to Xihe Holdings’ solicitors notice in writing of their 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 or firm, or his or their solicitor (if any).

Unless otherwise directed by the Court, the notice must reach the solicitors at least 3 clear working days before the Tuesday, 19 January 2021.

The solicitors of Xihe Holdings are:

WongPartnership LLP
Marina Boulevard
Level 28, Marina Bay Financial Centre Tower 3
Singapore 018982
(Ref: MSD/ SRM/JCZZ/20201943)

Related: Judicial Managers of Xihe Holdings and subsidiaries call for first creditors meeting
Related: Judicial Managers appointed for Xihe Holdings subsidiary, Xin Hui Shipping
Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial management
Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management
Related: Xihe Holdings supervisor to place seven tankers for sale in an attempt to repay creditors
Related: Xihe Holdings placed under IJM as OCBC reverses decision for ‘consensual restructuring’
Related: Xihe Capital and subsidiaries, Nan Guang Maritime to undergo voluntary liquidation
Related: Xihe replaces Directors, forms new management team to chart fresh course for Group 


Photo credit: Drew-Beamer

Published: 5 January, 2021

 

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