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OW's management knew about giant Singapore credits

A printout from OW Bunker's own financial system shows that the collapsed bunker group had, by as early as September, registered a claim of almost USD 80 million to one single client. "Completely obvious that the OW Bunker senior management was able to follow developments," lawyer tells ShippingWatch.

Credits for a total USD 79.4 million provided by OW Bunker's subsidiary in Singapore to local bunker supplier Tankoil Marine Services were known by and registered in the financial system at the now-crashed bunker group's headquarters in Nørresundby, Denmark.

This is made clear by a printout from OW Bunker's own bookkeeping department, which the group's lawyer at the time - from firm Kromann Reumert - provided to Lars Møller's lawyer at a meeting at the company's headquarters on November 7th. Lars Møller is the former CEO of OW Bunker's Singapore subsidiary, Dynamic Oil Trading.

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