Singapore Court Blocks Noble Group Shareholder Meeting
Noble has other investor meetings due in next few weeks; but court decision could complicate restructuring process. A Singapore court blocked commodity trader Noble Group Ltd from holding its annual meeting of shareholders on Monday following legal action sought by dissident shareholder, Goldilocks Investment Co. Ltd.
More Charges Against Shell Singapore Theft Suspects
Total number of people arrested in the case rises to 20; thefts are alleged to have been going on for months. A Singapore court on Monday filed additional charges against nine men accused in a large-scale oil theft at Shell's biggest refinery, the latest development in an extensive investigation in the city-state.
Court Orders Swiber to Stop Payment of Bank Guarantees
Swiber Offshore Construction, part of troubled Singapore oilfield services firm Swiber Holdings, has received an interim court order to halt payment of bank guarantees for projects it was involved in, a stock exchange filing showed. Parent company Swiber Holdings last month applied to place itself under judicial management…
Swiber Applies for Judicial Management Instead of Liquidation
Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation. Swiber shocked markets earlier this week by filing for liquidation, as it faced hundreds of million of dollars in debt and a decline in orders…
OW Bunker Board did not Approve Ill-Fated Credit Line
The board of OW Bunker did not approve a large credit line and had been "extremely surprised" by a huge trading loss, the chairman said on Thursday, referring to the two incidents blamed for the Danish ship fuel company's collapse. A credit line estimated at between $120 million and…
OW Bunker to Meet Liquidator; Ship Arrests Continue
OW Bunker owes financers more than $750 million-creditor data; six more vessels arrested; 7 in total. The Singapore arm of bankrupt Danish shipping fuel trader OW Bunker will meet with its liquidator KPMG in early December to discuss the firm's outstanding debt, which totals almost $1.5 billion globally.
