Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. 55 billion, including $983 million to at least 20 banks. * Seeks judicial management for Xihe and subsidiaries * Debt moratorium would help preserve ships’ values. This combines a structured. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. On 12 May 2020, the Judge granted OTPL leave to withdraw OS 406 and appointed IJMs over OTPL. * Seeks judicial management for Xihe and subsidiaries * Debt moratorium would help preserve ships’ values. His main areas of practice are corporate restructuring and insolvency, commercial and banking litigation and property disputes. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditors Ocean Tankers, Hin Leong, Xihe Holdings and four special purpose vehicles all owned by oil tycoon Oon Kuin Lim and his son and daughter have been placed by the Singapore High Court under judicial. Sep 16, 2020 8:54PM EDT. Related: O. OCBC applied for Xihe and the four SPV's to. Xihe Holdings (Pte) Ltd (under judicial management since 13 November 2020 and in liquidation pursuant to a compulsory. Xihe Holdings (Pte) Ltd. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to. 55 billion, including $983 million to at least 20 banks. Xihe Holdings Pte Ltd and its subsidiaries are owned by the Lim family, who are also the owners of the embattled Hin Leong Trading. SINGAPORE-A High Court hearing for OCBC Bank's application to bring the Lim family-run Xihe Holdings and four of its vessel-owning units under judicial management has been adjourned to Aug. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Home; About Us; Our Practice; Our People; Insights;Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Rankings. , an investment holding company incorporated in Singapore, which was placed under interim judicial management on 13 August 2020 and under judicial management on 13 November 2020; and (ii) a director from 1 July 2020 to 28 August 2020 of Xihe Capital (Pte. The judicial managers of Xihe Holdings in the restructuring of the Xihe Holdings group of companies. Director of the above named companies, the remuneration and expenses of Seshadri Rajagopalan and Jotangia as the joint judicial managers on 21 December 2020, will be charged as an. Singapore’s OCBC Bank has filed an application for Xihe Holdings, the vessel-owning arm of the empire of oil trader and tanker owner Lim Oon Kuin, to be placed under judicial management. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditors Last week, a High Court hearing for OCBC Bank’s application to bring tanker owner Xihe Holdings under judicial management was adjourned until 13 August. SINGAPORE, July 22 (Reuters) – Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries,. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. K. Court hearing on OCBC's judicial management application for Xihe Holdings adjourned to Aug 13SINGAPORE-A High Court hearing for OCBC Bank's application to bring the Lim family-run Xihe Holdings and four of its vessel-owning units under judicial management has been adjourned to Aug 13. Admin. K. Advised multiple major bank and non-bank creditorsvin relation to the judicial management of Hin Leong Trading, Ocean Tankers and Xihe Holdings, and the subsequent liquidation of HLT and OT. Home; About Us; Our Practice; Our People; Insights;Grant Thornton, interim judicial managers of Xihe Holdings, did not immediately respond to calls and an email requesting comment. Ltd. 55 billion, including $983 million to at least 20 banks. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. The above Xihe Holdings. Ltd. 10 On 7 August 2020, the Judge allowed OS 417 and placed HLT under judicial management, appointing the IJMs as judicial managers (“JMs”). Lim, with his son Evan Lim Chee Meng and daughter Lim Huey Ching, owns 77 companies under the Xihe Group, which consists mainly of Xihe Holdings and Xihe Capital. By Anshuman Daga and Jessica Jaganathan. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. SI applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O. The group has formed a new independent Xihe Holdings management board, “which has more than 100 years’ collective sea and shoreside shipping company management experience between them”. ) Ltd. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsXihe has a new management team in place. By. 18. 1 million was transferred by the Xihe group to troubled oil trader Hin Leong "for no valid commercial. Lim, with his son Evan Lim Chee Meng and daughter Lim Huey Ching, had owned just over 150 ships before their flagship trading company Hin Leong Trading, fleet manager Ocean Tankers (Pte) Ltd and Xihe Holdings were placed under judicial management last year. “The Xihe. 1 The present appeals arise from the decision of the High Court judge (the “Judge”) in Ocean Tankers (Pte) Ltd (under judicial management) v Rajah & Tann Singapore LLP and another matter [2021] SGHC 144 (the “Joinder Judgment”), dismissing HC/SUM 4429/2020 (“SUM 4429”) and HC/SUM 4417/ 2020 (“SUM 4417”) which were. SI applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O. m. Summary: Agritrade International was placed under judicial management in February after it collapsed amid allegations of fraud. The OTPL JMs. The sales come as the liquidators of the Singaporean. ) Ltd. a company’s judicial managers for the benefit of the company. Lim. SINGAPORE, July 22 (Reuters) – Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries,. Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. Xihe Holdings is owned by the Lim family. Grant Thornton, interim judicial managers of Xihe Holdings, did not immediately respond to calls and an email requesting comment. In a court filing, the judicial managers are looking to recover USD. SI applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O. The. Court records reveal the German bank filed a $17. . To consider and if thought fit, to approve an application to Court by the Judicial Managers for an extension of the Judicial Management Order; and 3. Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. Accounting firm Grant Thornton, court-appointed supervisor of Xihe Holdings, put up several vessels for sale through shipbrokers in September last year. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. 911 Government Street. Advised multiple major bank and non-bank creditorsvin relation to the judicial management of Hin Leong Trading, Ocean Tankers and Xihe Holdings, and the subsequent liquidation of HLT and OT. Advised multiple major bank and non-bank creditorsvin relation to the judicial management of Hin Leong Trading, Ocean Tankers and Xihe Holdings, and the subsequent liquidation of HLT and OT. Acting for a major bank creditor in the interim judicial management of Xihe Holdings Pte Ltd (part of the troubled Hin Leong group of companies). Xihe. 1 million was transferred by the Xihe group to troubled oil trader Hin Leong “for no valid commercial. which is in the business of. Grant Thornton Singapore has appointed provisional liquidators for several Xihe Holdings subsidiaries, namely Da Guang Tankers (Pte) Ltd, Dafa Shipping (Pte) Ltd, Dong Jiang Tankers (Pte) Ltd, and Xin An Shipping (Pte) Ltd, according to a Government Gazette post on Friday (21 January). Xihe Holdings is owned by the Lim family and held the bulk of their fleet. Photo credit: Benjamin-Child Published: 19 February, 2021 Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover discrepancies and fraud in exposure. Since its first promulgation in 2006, the Enterprise Bankruptcy Law of the People’s Republic of China (the Bankruptcy Law) has been playing an increasingly important role in the business environment in China. The Directors of Xihe Holdings subsidiary Nan Chiau Maritime (Pte. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Since Xihe Holdings Pte Ltd (XH) and its subsidiaries were placed under judicial management on Nov. 24 Aug 2020; News; Xihe Holdings is linked to most of the vessel-owning vehicles behind a 136-strong tanker fleet . Read more at straitstimes. to discuss and vote on the. In the period before their appointment (ie, when the management of Xihe Holdings and its vessel-owning subsidiaries were in place), the main contention was whether the OTPL JMs’ conduct showed that they wanted to redeliver the vessels. SINGAPORE, July 22 (Reuters) - Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its. Companies: Hin Leong Trading Pte Ltd, Ocean Tankers (Pte) Ltd. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover discrepancies and fraud in exposure. Acting for and advising numerous multinational cryptocurrency firms on cross-border. . This was first recognised in Singapore – tentatively but, in our view, rightly – by Kannan Ramesh J in Re Swiber Holdings Ltd [2018] 5 SLR 1358 (“Swiber Holdings”) at [89]. Insolvency law, policy and procedure. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. 9/17/2020 9:35:15 AM. Singapore: Annual general meetings set for Xihe Holdings subsidiaries. By Irene Ang and Jonathan Boonzaier in Singapore Singapore’s OCBC Bank has filed an application for Xihe Holdings, the vessel-owning arm of the empire of oil. Accounting firm Grant Thornton, court-appointed supervisor of Xihe Holdings, put up several vessels for sale through shipbrokers in September last year. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsSingapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. SI applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O. Judicial managers have filed to wind up the oil trader after it racked up some $4 billion in debt. MF Global. K. The bank has applied for Xihe Holdings and its. 5billion; receiver appointed for 3 Xihe ships Related: Xihe Holdings placed under IJM as OCBC reverses decision for ‘consensual restructuring’ Related: Xihe Group appoints V. Next. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsOcean Tankers, Hin Leong, Xihe Holdings and four special purpose vehicles all owned by oil tycoon Oon Kuin Lim and his son and daughter have been placed by the Singapore High Court under judicial. The three smaller chemical tankers are owned by Nan Jin Maritime, an SPV under Xihe Capital. Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. HSBC filed a court application to have the company placed under judicial management, while accusations of fraudulent activity led to a police raid on its Marina View headquarters. which are mainly Xihe Holdings Pte Ltd or Xihe Capital Pte Ltd. Read more at straitstimes. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditors Xihe Holdings is owned by the Lim family and held the bulk of their fleet. The address of the Company’s registered office and the Liquidator is One Raffles Quay, #27-10, Singapore 048583. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. K. 3 million Related: Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsSINGAPORE -The Lim family-run Xihe Holdings and four of its vessel-owning units are being brought under “urgent” judicial management by creditor OCBC Bank, which “strongly distrusts (their) current management” after US$208. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditors Shipping arm Ocean Tankers filed for judicial management last May, and in August last year, the court approved OCBC's application against Lim family-owned Xihe Holdings and subsidiaries. Related: OCBC files for Xihe Holdings to be placed under judicial management. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related: HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Lim Oon Kuin, also known as O. Singapore-based tanker shipowner the Xihe Group of Companies (Xihe) on Thursday (30 July) said a new management team has been put in place to chart a fresh course for the group. It is also active in the purchase and divestment of assets by private equity houses and is at the forefront of headline restructurings in the sector; it continues to advise multiple major bank and non-bank creditors in relation to the judicial management and the liquidation of Hin Leong Trading, Ocean Tankers and Xihe Holdings. To facilitate the implementation of the Bankruptcy Law and to guide courts of all levels to deal with bankruptcy cases in a more. Ship Management Technology Ports Insight Opinion People. Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. His main areas of practice are corporate restructuring and insolvency, commercial and banking litigation and property disputes. OTPL, HLT and Xihe did not respond to requests for comment about the court filings. He has been lead counsel in several high-profile cases, in particular, restructuring matters (both cross-border and domestic), and. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Acted for the Bank of New York Mellon as trustee of a US$500 million sukuk bond, in relation to the judicial management proceedings (supervised by the Singapore High Court) of Swiber Holdings. (Pte) Ltd and Xihe Holdings were placed under judicial management last year. 55 billion, including $983 million to at least 20 banks. (in liquidation pursuant to a members' voluntary winding up since 22 October 2020 and in liquidation pursuant to a creditors' voluntary winding up since 19 November 2021) 8. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover discrepancies and fraud in exposure. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Xihe Holdings is owned by the Lim family and held the bulk of their fleet. 3 million Related: Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditors The General Division of the High Court of Singapore on 24 March issued a winding up order against Xihe Holdings (Pte) Ltd (UEN No. Since its first promulgation in 2006, the Enterprise Bankruptcy Law of the People’s Republic of China (the Bankruptcy Law) has been playing an increasingly important role in the business environment in China. conclusion. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Acting for a major bank creditor in the interim judicial management of Xihe Holdings Pte Ltd (part of the troubled Hin Leong group of companies). OCBC applied for Xihe and the four SPV's to be placed under court. The details of the interim judicial managers’ office address are as follows: 8 Marina View #40-04/05 Asia Square Tower 1 Singapore 018960. Successfully acted for Oversea-Chinese Banking Corporation Limited in Originating Summons No. 38 As noted earlier, the Xihe JMs were appointed interim judicial managers on 13 August 2020. OCBC Bank says new appointments at Xihe give only veneer of independence but not actual independence guaranteed under judicial management. 13, 2020, the judicial managers (JMs) - Seshadri. To be entitled to vote at the meeting, creditors’ proxy and proof must be lodged with the Judicial Managers not later than 4. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Edward is the Deputy Head of the Firm’s Restructuring & Insolvency Practice. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsSingapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Main Contacts. ) Ltd. Kenny Lim Oon Cheng, Xihe Holdings interim chief executive, said in a July. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. 10 On 7 August 2020, the Judge allowed OS 417 and placed HLT under judicial management, appointing the IJMs as judicial managers (“JMs”). Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Ltd, under judicial managers from PricewaterhouseCoopers, has made an application to freeze. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditors Xihe Holdings is the third company related to the Lim family to be brought under interim judicial management following Hin Leong and its shipping arm Ocean Tankers, which came under full judicial. Related: Xihe Holdings files for. Advised multiple major bank and non-bank creditorsvin relation to the judicial management of Hin Leong Trading, Ocean Tankers and Xihe Holdings, and the subsequent liquidation of HLT and OT. 698 of 2020 to place Xihe Holdings (Pte) Ltd (part of the Hin Leong Group of Companies) into interim and final judicial management in one of the last cases under the pre-IRDA regime. Related: Provisional liquidators appointed for Xihe subsidiaries, call for creditor’s meeting Related: JMs: First creditors meeting of Xihe Holdings subsidiaries to be held in January 2021 Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial management Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related: HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Related: Xihe Holdings files for judicial management and winding up of Xihe Capital subsidiaries. 5 billion (SGD 4. Offers are now being sifted on product tankers, with chemical carriers next up in the sales frame1 The present appeals arise from the decision of the High Court judge (the “Judge”) in Ocean Tankers (Pte) Ltd (under judicial management) v Rajah & Tann Singapore LLP and another matter [2021] SGHC 144 (the “Joinder Judgment”), dismissing HC/SUM 4429/2020 (“SUM 4429”) and HC/SUM 4417/ 2020 (“SUM 4417”) which were. Several notices were published in the Government Gazette on 19th November 2020 regarding a judicial management order for Xihe Holdings Pte Ltd and some of its subsidiaries. By. Read more In place of the Lim family, Xihe said a new independent management board has been appointed which has more than 100. By. SINGAPORE -The Lim family-run Xihe Holdings and four of its vessel-owning units are being brought under "urgent" judicial management by creditor OCBC Bank, which "strongly distrusts (their. Search reviews. 38 As noted earlier, the Xihe JMs were appointed interim judicial managers on 13 August 2020. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. 7. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. The judicial manager of Xihe Holdings has put a VLCC linked to the family of Lim Oon Kuin — founder of collapsed oil trader Hin Leong Trading and affiliated shipping firm Ocean Tankers — up. . The OTPL JMs. (Pte) Ltd and Xihe Holdings were placed under judicial management last year. Clarksons declined to comment, while Arrow did not immediately. In September, KPMG attempted to sell the Xihe Holdings 16,600-dwt chemical tankers Ocean Success and Ocean Supreme (both built 2012) and the 1,000-dwt bunker tanker Marine Topaz (built 2015) in a. 199002021M),. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsOversea Chinese Banking Corp (OCBC) applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O. 34bn of debt on the restructuring of Pacific International Lines. Ltd. on Wednesday, 17 February 2021. Related: O. (in liquidation pursuant to a members' voluntary winding up since 22 October 2020 and in liquidation pursuant to a creditors' voluntary winding up since 19 November 2021) Xihe Holdings (Pte) Ltd (under judicial management since 13 November 2020 and in liquidation pursuant to a compulsory winding up since 24 March 2022)Xihe Holdings was placed under the interim judicial management of Grant Thornton Singapore in mid-August, but it is unclear how the three vessels fit within the arrangement. Related: Xihe Holdings files for. “All creditors of the abovenamed Company should file their proof of debt with the liquidators who will be administering all affairs. Advised an informal steering committee of lenders holding $1. The appellants are 40 vessel-owning subsidiaries of Xihe Holdings (Pte) Ltd (“the XH Companies”), while the respondent is Ocean Tankers (Pte) Ltd (“OTPL”). The appointment as director into various companies of the Xihe Holdings Group is to facilitate the purposes of the judicial management which are inter alia, the sale of assets to repay creditors, engage in acts to protect the interest of the group subsidiaries, and eventually place various subsidiaries into voluntary or involuntary winding up. Judicial managers of Lim Oon Kuin’s tanker owning company Xihe Holdings have lined up sales deals for two more of its LR2 aframax tankers. com. Court-appointed receivers and managers of Airtrust (Singapore) Pte. SINGAPORE -The Lim family-run Xihe Holdings and four of its vessel-owning units are being brought under “urgent” judicial management by creditor OCBC Bank, which “strongly distrusts (their) current management” after US$208. Clarksons declined to comment, while Arrow did not immediately. Singapore’s OCBC Bank has filed an application for Xihe Holdings, the vessel-owning arm of the empire of oil trader and tanker owner Lim Oon Kuin, to be placed under judicial management. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. XIHE HOLDINGS (PTE) LTD is registered as Exempt Private Limited Company with its address 8 MARINA VIEW, #40-04/05, ASIA SQUARE TOWER 1, Singapore 018960 XIHE HOLDINGS (PTE). 1 million was transferred by the Xihe group to troubled oil trader Hin Leong “for no valid commercial purpose,” according to. The affidavit was filed by Oversea-Chinese Banking Corp (OCBC) following incidents of fraud uncovered at Hin Leong Trading (HLT). It owed $1. 5billion; receiver appointed for 3 Xihe ships Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Xihe Holdings placed under IJM as OCBC reverses decision for ‘consensual restructuring’ Photo credit: Manifold Times Published: 13. Grant Thornton, interim judicial managers of Xihe Holdings, did not immediately respond to calls and an email requesting comment. Yelp is a fun and easy way to find, recommend and talk about what’s great and not so great in Victoria and beyond. Xihe. Hin Leong Trading Pte Ltd (HLT) and Ocean Tankers Pte Ltd (OTPL) being placed into judicial management raises important issues about the regulatory framework for private companies in Singapore, following a number of other private companies getting into trouble. Admin. OCBC, one of Singapore's largest banks, has sought to have the company placed under judicial management due to a “strong distrust” of Xihe’s management after allegedly fraudulent activities. Xihe. We refer to this as the “judicial management expenses principle” or “the Principle”. XIHE HOLDINGS (PTE) LTD. 3 million Related : Da. . Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover discrepancies. HSBC Holdings Plc’s earlier reported application for Singapore-based oil trading firm Zenrock Commodities Trading to be placed under judicial management has been scheduled for a hearing at 10 am on 13, July according to a notice published by the High Court of Singapore seen by Manifold Times. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Provisional liquidators appointed for Xihe subsidiaries, call for creditor’s meeting Related: JMs: First creditors meeting of Xihe Holdings subsidiaries to be held in January 2021 Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial managementAugust 3, 2020. Two notices were published in the Government Gazette on Tuesday (22 December) regarding the first meeting between the judicial managers of Xihe Holdings (Pte Ltd), its subsidiaries and its creditors, as well as the procedures to submit proof of debt to entitle creditors to a vote during the said meeting. Annual general meetings for Xin Chun Shipping are to be held at the following times:Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsXihe Holdings is the third company related to the Lim family to be brought under interim judicial management following Hin Leong and its shipping arm Ocean Tankers, which came under full judicial. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related: HSBC takes Lim family and Hin Leong employee to court to recover USD 85. 34bn of debt on the restructuring of Pacific International Lines. Successfully acted for Oversea-Chinese Banking Corporation Limited in Originating Summons No. Xihe Holdings subsidiary Xin Bo Shipping placed under judicial management Grant Thornton Singapore was appointed as judicial manager of the. Market sources believe that more of its. 13, 2020, the judicial managers (JMs) - Seshadri Rajagopalan and Paresh Jotangia of Grant Thornton Singapore - have taken a two pronged approach to maximise creditor recovery up until April 2021. The High Court of Singapore. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. m. Angela advises companies and stakeholders in distress situations and takes on appointments as Judicial Manager, Scheme Manager, Receiver and Liquidator. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Three companies related to the Lim family have been brought under interim judicial management. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. SINGAPORE -The Lim family-run Xihe Holdings and four of its vessel-owning units are being brought under "urgent" judicial management by creditor OCBC Bank, which "strongly distrusts (their) current management" after US$208. SINGAPORE -The Lim family-run Xihe Holdings and four of its vessel-owning units are being brought under "urgent" judicial management by creditor OCBC. 75 billion) on top of another USD 90 million in dividends which the. is ACRA-registered entity that has been operating for 33 years 5 months in Singapore since its incorporation in 1990. In the matter of Xihe Holdings (Pte) Ltd (Judicial Managers Appointed) (UEN No. It is also active in the purchase and divestment of assets by private equity houses and is at the forefront of headline restructurings in the sector; it continues to advise multiple major bank and non-bank creditors in relation to the judicial management and the liquidation of Hin Leong Trading, Ocean Tankers and Xihe Holdings. 5billion; receiver appointed for 3 Xihe ships Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Xihe Holdings placed under IJM as OCBC reverses decision for ‘consensual restructuring’ Photo credit: Manifold Times Published: 13 October, 2020 Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Gavin Mark McIntyre, Director of Xin Hui Shipping, announced Seshadri Rajagopalan. Xihe seeks to restructure business amid OCBC’s JM application. Acting for creditors against a well-known offshore construction and support services provider undergoing judicial management in Singapore. , a ship owner linked to troubled Singapore oil trader Hin Leong and its founder’s family, has been placed under interim judicial. Lim and two children sued for USD 3. Singapore’s third largest bank, Oversea-Chinese Banking Corp (OCBC) have filed an affidavit for Xihe Holdings, a private company owned by the Lim family, to be placed under judicial management following incidents of fraud uncovered at Hin Leong Trading (HLT), reports The Business Times. Several notices were published in the Government Gazette on Thursday (19 November) regarding a judicial management order for Xihe Holdings Pte Ltd and. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Xihe. under judicial management and, pending that event, for IJMs to be appointed. Ltd. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. Admin. . A notice was published in the Government Gazette on Friday (11 December) regarding the appointment of judicial managers for Xin Hui Shipping Pte Ltd (UEN NO. Court hearing on OCBC's judicial management application for Xihe Holdings adjourned to Aug 13SINGAPORE-A High Court hearing for OCBC Bank's application to bring the Lim family-run Xihe Holdings and four of its vessel-owning units under judicial management has been adjourned to Aug 13. Published Mon, Mar 14, 2022 · 8:48 pm Lawsuits THE judicial managers of Ocean Tankers and Xihe Holdings could not agree on whether some US$150 million in charter-hiring. Lawyer Profiles. Senior Business Correspondent SINGAPORE-A High Court hearing for OCBC Bank's application to bring the Lim family-run Xihe Holdings and four of its vessel. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Court-appointed receivers and managers of Airtrust (Singapore) Pte. This comes following Xihe’s previous announcement that its creditors have adjourned court proceedings in favour of working. 1 The present appeals arise from the decision of the High Court judge (the “Judge”) in Ocean Tankers (Pte) Ltd (under judicial management) v Rajah & Tann Singapore LLP and another matter [2021] SGHC 144 (the “Joinder Judgment”), dismissing HC/SUM 4429/2020 (“SUM 4429”) and HC/SUM 4417/ 2020 (“SUM 4417”) which were. The trio are the 16,600-dwt chemical tankers Ocean Success and Ocean Supreme (both built 2012) and the 1,000-dwt bunker tanker Marine Topaz (built 2015). Hearing to bring Xihe Holdings under judicial management put on hold | TradeWinds. com. This was first recognised in Singapore – tentatively but, in our view, rightly – by Kannan Ramesh J in Re Swiber Holdings Ltd [2018] 5 SLR 1358 (“Swiber Holdings”) at [89]. Review of Judicial Management. Admin. Xihe Holdings (Pte) Ltd (under judicial management since 13 November 2020 and in liquidation pursuant to a compulsory winding up since 24 March. The address of the Company's registered office is at the ASIA SQUARE TOWER 1 building. In the filing, OCBC claims the mismanagement in terms of financial reporting and other such “serious irregularities” have caused the bank to “strongly distrust” the current management of the company. Summary: Agritrade International was placed under judicial management in February after it collapsed amid allegations of fraud. Advised an informal steering committee of lenders holding $1. Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. Ocean Tankers, founded in 1978, manages and operates a. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover discrepancies. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. In the context of judicial management, expenses and liabilities are incurred by a company’s judicial managers (”JMs”) for the benefit of the company. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. com. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Singapore's High Court has issued a winding-up order against Xihe Holdings (Pte) Ltd, according to a notice published in the city-state's Government Gazette this week. A notice in the Government Gazette was published on Friday (11 June) regarding an upcoming meeting organised by judicial managers RSM Corporate Advisory for creditors of Hontop Energy Pte Ltd. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. et al. Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. The winding up application of Xihe Holdings (Pte) Ltd (UEN 199002021M) is scheduled to be heard at the General Division of the High Court of Singapore on 24 March 2022, according to judicial managers Grant Thornton Singapore. There has been rumours that Kane’s father is Kenny Lim Oon Cheng, Xihe Holdings interim chief executive in Singapore, Kenny is the brother of Lim Oon Kuin who is the founder of beleaguered Singaporean oil trader Hin Leong Trading (HLT). Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover discrepancies. He has been lead counsel in several high-profile cases, in particular, restructuring matters (both cross-border and domestic), and. Xihe Holdings is owned by the Lim family and held the bulk of their fleet. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsSINGAPORE, July 29 (Reuters) - The family that owns beleaguered Singaporean oil trader Hin Leong Trading (HLT) is seeking to block a request from creditor OCBC that overseers be appointed for Xihe. In April 1990, Xihe Holdings Pte Ltd (XHH), a ship-owning company, was. TSMP Law Corporation6 BATTERY ROADLEVEL 41SINGAPORE 049909Singapore. 00 p. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. The. comprising of Xihe Holdings Pte Ltd, Xihe Capital Pte Ltd and their subsidiaries (“the Xihe Group”), and a number of ship-holding special purpose vehicles. Published Mon, Mar 14, 2022 · 8:48 pm Lawsuits THE judicial managers of Ocean Tankers and Xihe Holdings could not agree on whether some US$150 million in charter-hiring fees claimed by Xihe should be ranked on a par with the remuneration and expenses of Ocean Tankers' judicial managers and in priority to Ocean Tankers' unsecured debts. Both the XH Companies and OTPL are presently in judicial management and are represented in these proceedings by their judicial managers, whom we refer to as “the XH JMs” and. XIHE HOLDINGS (PTE) LTD (the "Company") is a Exempt Private Company Limited by Shares, incorporated on 28 April 1990 (Saturday) in Singapore . 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsBy Jonathan Boonzaier. 5m mortgage claim against the 108,900-dwt Ocean Pegasus. Summary: The Singapore High Court put ZenRock Commodities under interim judicial management in May after one of its creditors HSBC Holdings PLC HSBA. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover discrepancies. Singapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. On 13 August 2020, Xihe Holdings and four of its vessel-owning subsidiaries were placed under interim judicial management orders, following applications brought by Overseas-Chinese Banking Corporation Ltd, a creditor. which are mainly Xihe Holdings Pte Ltd or Xihe Capital Pte Ltd. Kenny Lim Oon Cheng, Xihe Holdings interim chief executive, said in a July. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsUnder judicial management, a court appoints independent managers to run the affairs of a financially distressed company in place of existing management, a move that is often looked upon favourably by creditors. Oversea Chinese Banking Corp (OCBC) applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong. Edward is the Deputy Head of the Firm’s Restructuring & Insolvency Practice. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRepresenting bank creditors in successfully placing Xihe Holdings, a US$1 billion entity, into interim and final judicial management. Tel: +65 62088272 Email: abigail@revlawllc. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditors Ocean Tankers, Hin Leong, Xihe Holdings and four special purpose vehicles all owned by oil tycoon Oon Kuin Lim and his son and daughter have been placed by the Singapore High Court under judicial. The Xihe companies are also 100% owned by the Lim family. Xihe. China – where the Xiamen Maritime Court in August 2021, based on the principle of reciprocity, recognised a judicial manager in Xihe Holdings. The judicial managers of Xihe Holdings Pte. Summary: Agritrade International was placed under judicial management in February after it collapsed amid allegations of fraud. (in liquidation pursuant to a members' voluntary winding up since 22 October 2020 and in liquidation pursuant to a creditors' voluntary winding up since 19 November 2021) 8. 85 billion debt and legal investigations. Xihe Holdings is owned by the Lim family and held the bulk of their fleet. Summary: Agritrade International was placed under judicial management in February after it collapsed amid allegations of fraud. et al. A bank in an SIAC arbitration against a collateral management company for breach of contract and/or negligence in respect of pledged goods. Xihe Holdings is part of the troubled Lim family business empire, which also includes oil trader Hin Leong Trading and fleet manager Ocean. Xihe Holdings launches sales of seven Ocean Tankers-linked ships. Judicial Managers of Xihe Holdings and subsidiaries call for first creditors meeting. According to the notice, the first meeting of creditors will be held on Tuesday, 12 January 2021 at 10am (SG time) via video conferencing pursuant to Covid-19 measures. Xihe. Admin. Under judicial management, a court appoints independent managers to run the affairs of a financially distressed company in place of existing management, a move that is often looked upon favourably by creditors. Print two copies of the Litigants' Guide to Judicial Case Conferences and the Case Management Plan (one copy for you and one to give to the other person). Go to. Lim Chee Meng, director at Ocean Tankers and Hin Leong Trading (HLT), said in a court filing dated May 11 that the shipping firm could continue to operate under judicial management, though HLT’s. Oversea Chinese Banking Corp (OCBC) OCBC. 3 million Related: Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsSingapore bank OCBC is seeking a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries, four sources with knowledge of the court filing said. The. Xihe Holdings, which. Two notices were published in the Government Gazette on Monday (4 January) regarding an application by Xihe Holdings to place the following Xihe Capital Pte Ltd subsidiaries under judicial management and for the winding up of the following companies. In a related case, Lim and his two children who are also directors of Hin Leong were reportedly being sued by HLT’s judicial managers for breaching fiduciary duties as directors and fraud. The claimants/appellants are 40 vessel-owning subsidiaries of Xihe Holdings (Pte) Ltd (“the XH Companies”), while the respondent is Ocean Tankers (Pte) Ltd (“OTPL”). c. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. (2020) Min 72 Min Chu No. Mr Lim Oon Kuin, also known as O. Related: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover discrepancies and fraud in exposure. Hamburg Commercial Bank has arrested one of Xihe Holdings LR2 aframax tankers in Singapore. L alleged "highly dishonest transactions" at. Choosing health in a time of Covid-19, with HealthPass by OCBC. 34bn of debt on the restructuring of Pacific International Lines. UOB, Nikko Asset. 199002021M) Winding Up Order made on 24 March 2022. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsShipping arm Ocean Tankers filed for judicial management last May, and in August last year, the court approved OCBC's application against Lim family-owned Xihe Holdings and subsidiaries. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsLast week, a High Court hearing for OCBC Bank’s application to bring tanker owner Xihe Holdings under judicial management was adjourned until 13 August. Xihe Holdings is owned by the Lim family. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Provisional liquidators appointed for Xihe subsidiaries, call for creditor’s meeting Related: JMs: First creditors meeting of Xihe Holdings subsidiaries to be held in January 2021 Related: Singapore: Additional Xihe Holdings subsidiaries to be placed under judicial managementAs reported, Xihe Holdings - another sister company of HLT that owns a significant portion of the group’s tanker fleet - has been placed under interim JM on the back of OCBC’s application. Related: Singapore: Xihe Holdings and subsidiaries to be placed under judicial management Related : HSBC takes Lim family and Hin Leong employee to court to recover USD 85. Representing bank creditors in successfully placing Xihe Holdings, a US$1 billion entity, into interim and final judicial management. The rest of the ships are majority-owned by Xihe Capital - currently under liquidation. Article continues below the. Xihe Holdings is part of the Lim family business empire, which also includes troubled oil trader Hin Leong Trading and fleet manager Ocean Tankers, both of which were placed under court-appointed. Kenny Lim Oon Cheng, Xihe Holdings interim chief executive, said in a July. The judicial managers have allowed a handful of Xihe's tankers to be arrested in Singapore and sold at auction. 3 million Related : Da An Shipping Pte Ltd passes winding-up resolution and publishes notice to creditorsRelated: Judicial management applications for Hin Leong Trading and Ocean Tankers delayed Related: Lim family to inhibit law firm Rajah & Tann from representing troubled HLT & OTPL Related: OCBC files for Xihe Holdings to be placed under judicial management Related: Judicial managers of Ocean Tankers discover. OTPL, HLT and Xihe did not respond to requests for comment about the court filings. A notice was published in the Government Gazette on Friday (11 December) regarding the appointment of judicial managers for Xin Hui Shipping Pte Ltd (UEN NO. Under judicial management, a court appoints independent managers to run the affairs of a financially distressed company in place of existing management, a move that is often looked upon favourably. Financially troubled Singapore oil company Hin Leong Trading Pte Ltd on Monday (27 April) was reportedly granted interim judicial management by Singapore High Court in view of its crushing USD 3. Sylvester Holdings in Victoria, reviews by real people. On theThree companies related to the Lim family have been brought under interim judicial management. Related: Singapore court to consider judicial management of Xihe Holdings and subsidiaries Related: Xihe Holdings supervisor to place seven tankers for sale in an attempt to repay creditorsOcean Tankers, Hin Leong, Xihe Holdings and four special purpose vehicles all owned by oil tycoon Oon Kuin Lim and his son and daughter have been placed by the Singapore High Court under judicial.