Singapore: Xihe Holdings subsidiary Nan Chiau Maritime to be wound up

Several resolutions for Xihe Holdings subsidiary Nan Chiau Maritime (Pte.) Ltd. were passed by written means on Tuesday (26 July), according to a Friday (5 August) notice posted on the Government Gazette. 

The following were the resolutions duly passed:  

SPECIAL RESOLUTION – WINDING-UP 

That the Company be wound up pursuant to section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018. 2

ORDINARY RESOLUTION – APPOINTMENT OF LIQUIDATORS 

That Seshadri Rajagopalan, Paresh Tribhovan Jotangia and Ho May Kee of Grant Thornton Singapore Private Limited c/o 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 be appointed as joint and several liquidators of the Company for the purpose of the winding-up. 

ORDINARY RESOLUTION – JUDICIAL MANAGERS’ REMUNERATION AND EXPENSES 

The remuneration and expenses of Seshadri Rajagopalan and Paresh Tribhovan Jotangia of Grant Thornton Singapore Private Limited c/o 8 Marina View, #40-04/05 Asia Square Tower 1, Singapore 018960 appointed as judicial managers on 6 November 2020 (including fees of professionals engaged by the judicial managers), before their cessation as judicial managers, be charged as an expense of the winding-up commenced pursuant to section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 in accordance with the resolution passed on 4 July 2022.

Manifold Times previously reported the Directors of Nan Chiau Maritime on 4 July declared the company’s inability to continue business and a meeting of its creditors was organised on 27 July. 

Related: Directors declare inability of Nan Chiau Maritime to continue business, liquidators to be appointed

Photo credit: Drew Beamer on Unsplash
Published: 8 August, 2022