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Otto Marine repays debts, creditor withdraws winding up order

Singapore’s Otto Marine has updated that it has fully paid up debts of around $1.18m to an unnamed creditor, and the creditor has undertaken to withdraw a winding up application against the offshore services firm.

Lee Hong Liang, Asia Correspondent

April 28, 2015

1 Min Read

Kalyakan - stock.adobe.com

Otto Marine announced earlier that its creditor has made separate claims of $200,000 and EUR900,000 ($978,250) against the company at the Singapore High Court.

A winding up application was supposed to be heard at the court on 15 May.

Singapore-listed Otto Marine said the event is not expected to have an impact on its financials for the financial year ending 31 December 2015.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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