Published:
Hoe Leong breaks free from Otto Marine's winding up case
But still denies $1.3m debt was due.
After squabbling over unpaid obligations, Hoe Leong and Otto Marine finally called it quits following Hoe Leong’s repayment of about S$1.3 million or US$920,000.
According to Hoe Leong, Otto Marine already took back the winding up case it filed against the company about a month ago.
The heavy equipment supplier said the case had been withdrawn upon its payment but “without admission of liability that the debt is due.”
The group does not expect the event to impact the company’s financials this year.
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