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Media: Tankoil CEO in secret settlement with Noble Group

Dennis Tan, CEO of Singapore-based Tankoil, whose close ties pulled the rug out under OW Bunker, has reached a secret settlement with Noble Group. This brings new hope to the efforts of finding the missing USD 155 million in the island state.

Photo: OW Bunker

A secret settlement in Singapore brings new hope to the OW Bunker trustees who are trying to recover the money for creditors and investors following the bankruptcy of the major Danish bunker company in 2014, reports Danish television TV2 on its website.

TV2 has got access to court documents in Singapore which could indicate that the former CEO of Tankoil, Dennis Tan - who ran a troublesome and criticized close collaboration with OW Bunker subsidiary Dynamic Oil Trading (DOT) and who has since gone below radar - may have money.

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