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DOT Singapore owes 329 million USD

OW Bunker´s Singapore subsidiary Dynamic Oil Trading has over 100 unsecured creditors to whom it owes an estimated 198 million USD. There is an estimated 329 million USD in gross receivables due to DOT Singapore, it appears from a creditors meeting.

Photo: Kasper Palsnov/Jyllands-Posten

Three KPMG partners were confirmed as the joint and several liquidators of OW Bunker´s Singapore subsidiary, Dynamic Oil Trading. They had been appointed provisional liquidators already on 18 November 2014, 11 days after DOT Singapore’s parent company filed for bankruptcy in Denmark.

According to a press release, there is an estimated 329 million USD in gross receivables due to DOT Singapore. Dutch ING Bank N.V. is the largest secured creditor of DOT Singapore. In addition, DOT Singapore has over 100 unsecured creditors to whom it owes an estimated 198 million USD, it says.

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