A notice in the Government Gazette was published by the Director of Da An Shipping Pte Ltd on Friday (30 October), regarding some resolutions that were passed in relation to the winding up of the company as well as a separate notice to creditors.
Da An is a subsidiary of Xihe Holdings owned by the Lim family, who are also the owners of the embattled Hin Leong Trading.
The resolutions published in the notice include the following:
1) Winding up:
- Da An be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.
2) Appointment of liquidators:
- Seshadri Rajagopalan and Paresh Jotangia of Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 have been appointed as joint liquidators to conduct the winding-up and their remuneration is to be fixed on the usual scale of their professional charges for the work involved.
3) Distribution of Assets:
- The appointed liquidators will be authorised to exercise any of their powers given by Section 177, 144(1) and (2) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to members, in specie, any part of Da An’s assets.
4) Change of registered office:
- The company’s registered office address will be changed with immediate effect to: Grant Thornton Singapore Private Limited, 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960
The separate notice addressed to creditors stated:
Creditors are required on or before Monday (30 November, 2020) to send in their names and addresses and the particulars of their debts or claims and the names and addresses of their solicitors (if any) to the appointed liquidators at Grant Thornton and if so required are to come in and prove their debts or claims as shall be specified or in default will be excluded from the benefit of any distribution made before such proof.
Related: Grant Thornton Singapore appointed interim judicial managers for Xihe subsidiaries
Related: Singapore court to consider judicial management of Xihe Holdings and subsidiaries
Related: Xihe Holdings supervisor to place seven tankers for sale in an attempt to repay creditors
Photo credit: stevepb
Published: 2 November, 2020
