SUBSCRIBERS
Xihe seeks to restructure business amid OCBC's judicial management application
Add BT as a preferred source
Published Thu, Jul 30, 2020 · 09:50 PM
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
OIL tanker shipowner Xihe Group, which is linked to the Lim family of troubled oil trader Hin Leong, plans to embark on a "consensual restructuring" with its lenders and sell some of its vessels, the company said in a press statement on Thursday.
Xihe's statement comes ahead of a Singapore High Court hearing on Aug 13, where Hin Leong creditor OCBC Bank seeks to bring Xihe and four of its vessel-owning units under judicial management.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
