Nine years on from the collapse of marine fuel trader OW Bunker in 2014, legal fights over the fallout are still hitting the courts.
Singapore's Supreme Court is set for a hearing of OW Bunker unit Dynamic Oil Trading's case against its former auditors Deloitte & Touche on May 3, according to a list of hearings on the Singapore judiciary's website.
The case relates to Deloitte's performance in auditing the firm's accounts in the lead-up to the collapse.
OW Bunker filed for bankruptcy in November 2014, just months after being valued at more than $1 billion at IPO, after that year's collapse in crude prices led to significant losses on a single credit line from Dynamic Oil and more widespread hedging losses around the world.
The collapse had a profound effect on the bunker industry, bringing about a complete re-evaluation of the legal norms around bunker trading. The fact that court cases are continuing almost a decade later demonstrates the case's significance to the industry.
