OW Bunker creditors in Denmark may not have dibs on S'pore units' receivables

Singapore

CREDITORS of the beleaguered Danish marine fuel supplier OW Bunker in Denmark may not automatically have the right to claim from the group's failed Singapore subsidiaries.

KPMG, the provisional liquidators of the two Singapore-based units - OW Bunker Far East (Singapore) and Dynamic Oil Trading (Singapore) - have disclosed that the trustees and receivers in Denmark do not have secured rights over all receivables of these two Singapore companies.

It also confirmed that a receivables collection pact signed in Copenhagen between Danish receivers and trustees last week did not extend …