20-08-2016

Bunker fuel supplier Monjasa seeks to wind up Searights via Singapore courts

bunkerfuel

Bunker fuel supplier Monjasa has sought the winding up of local bunker supplier Searights Maritime Services through the Singapore court system, according to court documents obtained by S&P Global Platts Friday.

Monjasa, as the plaintiff is seeking, that “a winding up order be made against the Defendant pursuant to section 254(1)(e) of the Companies Act (Cap 50),” that “the Official Receiver be appointed as the Liquidator of the Defendant,” and that “the costs of and incidental to these proceedings be taxed, if not agreed or fixed, and be paid to the Plaintiff out of the assets of the Defendant.”

The monetary amount at the crux of the dispute was not stated in records available to the public.

The initial hearing for the matter had taken place on July 29, but no further details were available, the court documents showed.

Solicitors for Monjasa on Friday were unable to comment beyond what was available in the Singapore Supreme Court records.

At the initial hearing, United Overseas Bank had made its intentions to appear at the hearing, listing itself as a creditor of Searights Maritime Services “of $111,384,597.97 and S$920,084.42 ($684,532.29) [excluding interest accrued up to July 26, 2016],” court records showed.

Monjasa is being represented by Oon & Bazul, while UOB is being represented by Rajah & Tann Singapore.

The next hearing date has been fixed for August 26, court records showed.

Source: Platts

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