Asia/Pacific News
UOB Lists Itself as a $112M Creditor of Searights
United Overseas Bank (UOB) has listed itself as a $112 million creditor of Searights Maritime Services Pte Ltd (Searights), according to court papers obtained by Platts.
As Ship & Bunker previously reported, last month Monjasa issued a winding up order against the troubled Singapore bunker supplier after it failed to come to agreement on its outstanding debts.
An initial hearing for that case took place on July 29, where UOB also listed itself as a creditor of $111,384,597.97 and S$920,084.42 (about $681,000).
While the amount being claimed by Monjasa is not stated in publicly available records, the company previously told Ship & Bunker it is "within the range of USD$1-2 million."
The next hearing of the winding up petition is scheduled to be heard this Friday, August 26, 2016 by Justice Choo Han Teck.
The Supreme Court website shows Monjasa is being represented by Oon & Bazul LLP, while Searights is currently listed as "unrepresented".
As reported earlier, the former bunkering force who last year placed 12th on the Maritime and Port Authority of Singapore's list of top bunker suppliers by volume, officially ceased as an accredited bunker supplier at the end of last month, but it has been well known that Searights' financial problems has meant it has not been actively supplying for most of 2016.
