Creditor Applies to Singapore High Court to Wind Up Otto Marine

Source: www.gulfoilandgas.com 4/25/2015, Location: Not categorized

Otto Marine Limited wishes to announce that a creditor of the Company (the Creditor) has filed a winding up application with the Singapore High Court (the Court) to wind up the Company (the Application).

The Court has made directions for the Application to be heard on 15 May 2015. The total sum claimed against the Company pursuant to the Application is approximately USD 200,000 and EUR 900,000 (the Debt).The Company is not disputing the Debt. The Company is currently in negotiations with the Creditor’s solicitors to reach a settlement in respect of the Debt.

The Company has taken all reasonable care to ensure that the facts stated in this announcement are fair and accurate in all material aspects as at the date hereof and that no material facts have been omitted from this announcement. The event is not expected to have a material impact on the financials of the Company for the financial year ending 31 December 2015.


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Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


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