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Wiljo sells off bunkering activities

A few weeks after filing for Chapter 11, one of the biggest OW Bunker creditors has decided to sell off all bunkering activities through a bidding process.

Photo: Kasper Palsnov/Jyllands-Posten

One of the main bunker suppliers at the huge Belgian and Dutch ports, Antwerp-based Wiljo, has decided to divest all bunkering activities, the company informs ShippingWatch.

Wiljo, which is among the biggest creditors following the OW Bunker collapse, has opened a bidding process to attract potential buyers in agreement with the Commercial Court of Antwerp where the company filed for Chapter 11 in December last year.

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"In order to achieve its continuance and to preserve its value and economical activities, the Commercial Court of Antwerp (through lawyer Mr. Van Moorleghem, member of the law firm Metisadvocaten, and the Management of Wiljo made the decision to split off the ship-bunkering department and activities of Wiljo. A bidding process for the sale of the bunker activities has been opened to any interested party," says Wiljo in a statement.

Dragged down by OW

According to information on the web site of Belgian law firm Metisadvocaten, the Commercial Court of Antwerp granted Wiljo protection against its creditors. In December last year, the Court authorized "that in view of the restructuring of Wiljo, parts of the company, or even the whole company could be transferred."

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As described earlier by ShippingWatch, Wiljo is, so far, the first publicly known example of one of the major business partners dealing with OW Bunker to have been dragged down by the collapse of the Danish company in November last year. 100 companies dealing with OW Bunker appeared nn the comprehensive creditor list, which was made public in mid-November, and the total debt was considerable. In Wiljo's case the amount due was USD 10 million.

The bidding process is planned to remain open until January 30.

OW Bunker's banks file giant claim against Norwegian subsidiary

OW Bunker loss forces Wiljo to Chapter 11

Aegean takes over ships from OW Bunker in Hamburg

Investors prepare giant claim against OW Bunker management

OW Bunker management sued for USD 106 million 

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