Apparently making a premptive move, troubled Malaysian company Tanjung Offshore has lodged a police report against two directors, Tan Kean Soon and Muhammad Sabri Ab Ghani, who have been suspended from their executive positions following the...
Dynamic Oil Trading, the OW Bunker unit at the centre of a $125m fraud scandal, has been placed into bankruptcy.
OW Bunker has filed for chapter 11 bankruptcy for its three US units.
As the number of companies looking to sue bankrupt OW Bunker continues to grow two South Korean oil companies are reported to be considering legal action.
The lawyer acting for Lars Moller ceo of Dynamic Oil Trading at the centre of the OW Bunker scandal denies there were any illegal activities.
The rapid collapse into bankruptcy of OW Bunker just 48 hours after it revealed a $125m fraud at Singapore subsidiary Dynamic Oil Trading, as well as $150m in risk management losses announced at the same time, leaves an awful lot of unanswered...
Owners that have recently taken a bunker delivery from bankrupt OW Bunker or one of its subsidiaries could face claims by unpaid sub-contractors warns P&I club Skuld.
OW Bunker has filed for bankruptcy just two days after a $125m fraud was revealed at Singapore subsidiary Dynamic Oil Trading.
OW Bunker has filed for in-court restructuring for major parts of its business and the subsidiaries involved face insolvency following the uncovering a $125m fraud in Singapore and a $150m risk management loss.