You are here

Vallianz Holdings facing 2 foreign lawsuits related to Swiber

Friday, December 2, 2016 - 18:36
25-35412429 - 10_07_2015 - mlvallianz123.jpg
CATALIST-LISTED offshore-support vessel provider Vallianz is facing two lawsuits from overseas in relation to distressed offshore and marine company Swiber Holdings that may involve more than S$10 million in total.

CATALIST-LISTED offshore-support vessel provider Vallianz is facing two lawsuits from overseas in relation to distressed offshore and marine company Swiber Holdings that may involve more than S$10 million in total.

In a filing after market close on Friday, Vallianz said that it is facing a suit from India and another from Indonesia.

Vallianz said that it was notified of the suit from India via email. It was commenced against its wholly-owned subsidiaries, Offshore Engineering Resources Pte Ltd ("OER") and Vallianz Offshore Marine Pte Ltd, together with Swiber Offshore (India) Pte Ltd ("SOI"), and Oil and Natural Gas Corporation ("ONGC") in the Bombay High Court.

Plaintiffs are seeking, among others, payment of unpaid invoices of about US$1.6 million (about S$2.28 million) from SOI, VOM and OER.

They also want an injunction against SOI, VOM and OER to prevent the repatriation of their respective income and monies out of India pending resolution of the suit; an anti-suit injunction against SOI, VOM and OER to prevent them from filing a claim against the plaintiffs in any other jurisdiction pending resolution of the suit; and for ONGC to pay into the Bombay High Court monies that it is contractually obliged to pay to SOI.

VOM and OER have since taken steps to appoint Indian lawyers to represent them in the suit, said Vallianz. Their Indian lawyers also said that this suit is collectively being heard with several other suits in the Bombay Court, in which SOI is a named defendant.

In addition, VOM and an indirect subsidiary of Vallianz called Holmen Arctic Pte Ltd ("Holmen") have been named as defendants in a suit commenced by one PT ASL Shipyard Indonesia. Swiber Offshore Construction Pte Ltd ("SOC") and Newcruz Offshore Marine Pte Ltd ("NOM") were also named as defendants.

The claims "appear to be in relation to the maintenance and repair works provided to the vessel, Holmen Arctic', which Holmen (as the registered owner of the vessel) had chartered to SOC," said Vallianz.

The Indonesian claimant is claiming, among others, payment by VOM, Holmen, SOC and NOM of unpaid invoices issued pursuant to certain purchase orders totalling a sum of approximately S$1.9 million; and other interests, fees and damages totalling a sum of approximately S$6.8 million.

Powered by GET.comGetCom