OCBC serves Triyards statutory demand over debts

Singapore

OCBC Bank is the latest creditor to lose patience with Triyards Holdings. The bank served a statutory demand on Sept 5 for US$11.6 million and 1.13 billion Vietnamese dong (S$67,310) on the cash-strapped company for banking facilities granted to Triyards' subsidiary Strategic Marine (V) Company Ltd.

The statutory demand states that if Triyards "fails to pay, secure or compound the sums owed to the reasonable satisfaction of OCBC" within 21 days of the letter, OCBC shall be entitled to present an application for a winding-up order against the company.