Inter-Pacific Group, Inter-Pacific Petroleum under judicial management

Singapore bunker supplier Inter-Pacific Petroleum Pte Ltd (IPP) and its parent company Inter-Pacific Group Pte Ltd on Friday (16 August) filed for judicial management at the High Court of the Republic of Singapore.

Both firms have appointed Deloitte & Touche LLP as their Judicial Managers, according to documents seen by Singapore bunkering publication Manifold Times.

The appointment of Judicial Managers allows for “a more advantageous realisation of the Company’s assets than would be effected by a winding-up.”

A pre-trial conference on 5 September, 2019 has been organised regarding the development.

The bunker craft operator licence of IPP has been temporarily suspended by the Maritime and Port Authority of Singapore (MPA) since 27 June.

Former crew members of a Singapore-flagged bunker tanker (IMO 9199701) chartered by IPP, now renamed as Fragrance, are in the middle of trials at the State Courts of Singapore over tampering of a mass flowmeter.

Dr Goh Jin Hian, Director of IPP, earlier told Manifold Times that, “it was premature for MPA to have suspended” IPP’s bunker craft operator licence.

Related: Magnets on MFMs: “Consort Justice” crew pleads ‘not guilty’ to tampering charge
Related: IPP responds to temporary suspension of bunker craft operator licence
Related: MPA temporarily suspends IPP bunker craft operator licence
Related: Singapore: Bunker Cargo officer, crew face charges over alleged MFM tampering

Photo credit: Manifold Times
Published: 26 August, 2019