Asia/Pacific News
Brightoil Tanker SPV Creditors to Receive Dividends
The creditors of several special purpose vehicles set up by Brightoil Petroleum to cover its tanker fleet are set to receive dividends.
The firms' liquidator, Acres Advisory Private Limited, published notices highlighting the intention to pay a dividend in Singapore's Government Gazette on Thursday.
The SPVs in question are Brightoil 688 Oil Tanker Pte Ltd, Brightoil 666 Oil Tanker Pte Ltd, Brightoil 639 Oil Tanker Pte Ltd, Brightoil 639 Oil Tanker Pte Ltd and Brightoil 319 Oil Tanker Pte Ltd.
Creditors have until February 25 to submit evidence for their claims to the liquidators.
Brightoil was delisted in Hong Kong in 2020 after several years of delayed earnings releases and legal proceedings, and has since undergone a restructuring and refocused its business away from bunkering onto upstream projects.
