Asia/Pacific News
OW Bunker Court Cases Still Going
Nine years after the collapse of OW Bunker, cases related to the disappearance of the once-dominant bunker trading firm continue to pass through the courts.
The latest case is between the defunct trading firm's Singapore unit, lender ING Bank and Malaysia's Tumpuan Megah Development, due for a hearing at Malaysia's High Court on December 5.
OW Bunker Far East (Singapore) Pte and ING are seeking about $937,000 plus interest and costs from the Malaysian firm.
The companies had initially attempted to pursue the case in the English courts, before being rebuffed, TMD's owner Straits Energy Resources said in an exchange filing this week.
"The matter will now proceed for trial at the High Court within the parameters of the 4 issues of the Application for Trial and that the case management at the High Court is scheduled on 5 December 2023," the company said in the notice.
OW Bunker collapsed in November 2014.
