Legal

Chimbusco Pan Nation wins bunker claim case against Singapore firm

Hong Kong court orders Arkstar Ship Management to pay US $335,858 (without interest) to plaintiff.

Published

8 years ago

January 21, 2019

Admin

Singapore-listed Hoe Leong Corporation Limited (HLC) on Friday (18 January) said its subsidiary Arkstar Ship Management Pte Ltd (ASM) had been ordered by the High Court of Hong Kong Special Administrative Region to pay Hong Kong-based bunkering firm Chimbusco Pan Nation Petro-Chemical Co. Ltd (Chimbusco PN) its bunker claim of US $335,858.

ASM on 4 September 2015, in a legal suit initiated by Chimbusco PN, was summoned to the court over a failed payment in a sale contract relating to the supply of marine fuel oil to one of its vessels.

It claimed Chimbusco PN allegedly supplied contaminated bunker fuel to its vessel, resulting in the vessel being deferred from commencement of chartering services for a few months.

However, the court on 11 January 2019 “ruled against ASM on the basis that ASM’s defence and counterclaim was excluded according to the interpretation of the Contract and the factual finding that the bunkers were not contaminated”, according to HLC.

As such ASM has been order to pay Chimbusco PN a principal sum in the amount of US$335,858.31, together with interest at Prime Rate plus 1% from a date 30 days after the date of the invoice made on 17 February 2014 until the date of Judgment (11 January 2019) and at the Judgment Rate (i.e. 8.088% per annum).

Further ASM has to pay the cost of Chimbusco PN on a party-to-party basis.

“ASM is currently seeking legal advice and exploring all of its options in respect of the above-mentioned Order of the Court,” concluded a statement from Hoe Leong Corporation.

Published: 21 January, 2019

Winding up

Singapore: Notice of intended dividend issued for Xihe Holdings’ subsidiaries

Creditors will need to produce proofs of debt to liquidators of Da Xin Tankers and Nan Chiau Maritime by 5 August, according to Government Gazette notice.

Published

5 hours ago

July 23, 2026

Admin

Two notices to declare the intended dividend of Xihe Holdings’ subsidiaries to their creditors have been posted on the Government Gazette on Wednesday (22 July).

The subsidiaries are Da Xin Tankers Pte Ltd and Nan Chiau Maritime Pte Ltd.

The following are the details of the notices of intended dividend:

Name of Company : Da Xin Tankers (Pte) Ltd (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 198400895W
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Last Day for Receiving Proofs : 5 August 2026 at 5:00 pm by email to [email protected]
Name of Liquidators : Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Name of Company : Nan Chiau Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No.: 200814296Z
Address of Registered Office : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
Last Day for Receiving Proofs : 5 August 2026 at 5:00 pm by email to [email protected]
Name of Liquidators : Paresh Tribhovan Jotangia and Ho May Kee
Address : c/o Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960

Photo credit: steve pb from Pixabay
Published: 23 July, 2026

Winding up

Singapore: High Court to hear Norvic Shipping Asia winding up application on 31 July

Application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to Government Gazette notice.

Published

1 day ago

July 22, 2026

Admin

An application for the winding up of Norvic Shipping Asia Pte Ltd was filed by Netherlands-registered Mur Shipping BV on 8 April, according to a Tuesday (21 July) notice on the Government Gazette.

It noted the winding up application is directed to be heard before the Judge sitting in the General Division of the High Court at 10am on 31 July.

Any creditor or contributory of the company desiring to support or oppose the making of an order on the winding up application may appear at the time of hearing by himself or his counsel for that purpose.

A copy of the winding up application will be furnished to any creditor or contributory of the company requiring the copy of the winding up application by the solicitors of the applicant’s, Oon & Bazul LLC, on payment of the regulated charge for the same.

The Applicant’s address is Hiridostraat 5, Gebouw Prismatrium, 1101CW Amsterdam, The Netherlands.

The Applicant’s solicitors are Oon & Bazul LLC of 103 Penang Rd, #04-04/05/06 Singapore 238467.

Queries on the winding up application may be directed to the following email addresses: [email protected] and [email protected].

Photo credit: Manifold Times
Published: 22 July, 2026

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

2 days ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026