EMEA News
Danish OW Bunker Trustees: Another Month Before First Real Picture of Creditor Claims
Trustees dealing with the bankruptcy of OW Bunker Denmark are struggling to get an overall picture of claims against the defunct group's worldwide subsidiaries, Shipping Watch reports.
It is likely to be another month before trustees have the first real overview of all the claims and counterclaims for the group, according to OW Bunker Denmark trustee, Pernille Bigaard for law firm, Plesner.
Three quarters of claims are understood to relate to OW Bunker subsidiaries outside Denmark and trustees are highly dependent on local resources for some very large aspects.
KPMG in Singapore is handling Dynamic Oil Trading (DOT)'s claims against Tankoil Marine Services (Tankoil) and only once that has been settled will the Danish trustees potentially be able to recover some losses from its estate.
But Tankoil shows no signs of struggling and continues to operate seemingly as normal in the Singapore market, local sources were reported as saying.
"The only thing we can do is put pressure on the DOT trustees," said Bigaard.
"DOT is bankrupt, so we'll be able to file claims in dividends from that estate."
A number of carriers are said to be awaiting bills for bunker deliveries prior to OW Bunker's collapse and others, who have received multiple claims for the same stems, are looking to courts to work out who they should pay.
