Multiple Hours | Singapore: Notice of planned dividend announced for Southernpec (Singapore) Shipping Pte Ltd

Two notices were published in the Official Gazette on Friday May 20 regarding the liquidation process of marine fuel supplier sister company Southernpec (Singapore) Pte Ltd (SSPL) Southernpec (Singapore) Shipping Pte Ltd (SPSPL).

In the first notice, SPSPL liquidator Wong Joo Wan issued a notice of expected dividend.

Creditors must submit proof of claim to the liquidator before June 6, 2022.

The contact details of the liquidator are as follows:

c/o Alternative Advisors Pte Ltd
1 way Commonwealth
#06-21 One Commonwealth
Singapore 149544

In the second notice, Wong scheduled a meeting of creditors of SPSPL by videoconference (Zoom platform) on May 31, 2022 at 4:00 p.m. for the following purposes:

Agenda

1. Receive an update on the status of the Company’s liquidation;
2. Consider and, if deemed appropriate, authorize the liquidator to compromise on the debts due to the Company;
3. Examine and, if deemed appropriate, appoint an inspection committee; and
4. To consider any other matter that may be duly brought before the meeting.

A creditor may appoint a proxy to attend and vote in his place and this proxy does not need to be a creditor himself.

The deed of proxy must be deposited at the office above no later than 4 p.m. the day before the meeting.

To enable creditors to attend and vote, proof of debt and supporting documents must be lodged with the liquidator’s office at Alternative Advisors Pte Ltd, 1 Commonwealth Lane, #06-21 One Commonwealth, Singapore 149544 or by e-mail to [email protected] and tina[email protected] no later than 4:00 p.m. the day before the meeting.

The details of the above meeting will be communicated to creditors who have filed the relevant forms of proxy, deed appointing the proxyholder and proof of indebtedness within the stipulated time.

Related: Court issues winding up order against Southernpec (Singapore) companies
Related: Goodwood Associates to initiate liquidation of Southernpec (Singapore) companies
Related: US$1.49m bunker credit sleeve dispute between Goodwood and Southernpec comes to an end

Photo credit: Benjamin-child
Posted: May 23, 2022