ShippingWatch

Brightoil reaches agreement with several creditors

Bunker company Brightoil Petroleum has reached a settlement on the debt that resulted in the previous chairman being declared personally bankrupt. The company lands agreements with several creditors.

Photo: Colourbox

Strained bunker company Brightoil secures deals with several creditors, informs the bunker company.

One agreement concerns USD 30 million in debt, which the company's previous chairman Sit Kwong Lam was personally liable for, and which ultimately ended in Sit being declared personally bankrupt by a court in Hong Kong. Subsequently, he stepped down as chairman.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Related articles

Latest news

Jobs

See all

See all