Creditor hounds Otto Marine for $1.57m worth of debt

It has filed a winding up application with the High Court.

Otto Marine reported that one of its creditors has filed a winding up application with the Singapore High Court for the settlement of a debt worth approximately $1.57m.

The total sum claimed against Otto Marine is approximately USD 200,000 and EUR 900,000. The Court has made directions for the application to be heard on 15 May 2015.

Otto Marine stated that it is not disputing the debt and is currently in negotiations with the creditor’s solicitors to reach a settlement,
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Strides Premier enhances routing with Autofleet tech
The Singaporean taxi operator will utilise Autofleet’s platform to improve route planning and dispatching.
RGE and Singapore Fashion Council launch ‘Responsible Fashion Scholarship’
It is open for Singaporean citizens or permanent residents in full-time undergraduate or postgraduate programs at recognized institutions.
HR & Education