The Singapore Courts have approved an application made by World Fuel Services in September last year for a winding-up order against Reflect. The winding-up order is effective from 7 September 2012, the date the application was made to the courts by World Fuel Services.
The courts also appointed Yit Chee Wah of FTI Consulting as a liquidator of Reflect. The cost of court proceedings are to be agreed or taxed and paid from the assets of Reflect.
With the courts enforcing the winding-up order application by World Fuel Services no ruling will be made on another winding-up application by Sea and Land Technologies.
A subsidiary of Singapore-listed Otto Marine, Reflect provided marine geophysical surveys to the oil and gas industry. It operated two seismic survey vessels.
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