PETROPROD LTD (IN OFFICIAL LIQUIDATION)On the petition of Norsk Tillitsmann ASA of Haakon VII gat 10161, Oslo Norway in its capacity as loan trustee on behalf of: (i) the bondholders of a US$185,000,000 10.85% secured callable bond issue issued by PetroProd Ltd with ISIN No. 001 036899.6; and (ii) the bondholders of a US$150,000,000 callable bond issue issued by PetroProd Ltd with ISIN No. 001 0347735, the Grand Court of the Cayman Islands ordered Simon Whicker and Kris Beighton to be appointed as Joint Official Liquidators (the "JOLs") in respect of PetroProd Ltd on 17 July 2009. Further to parallel insolvency proceedings being commenced in Singapore and by order of the High Court of the Republic of Singapore dated 3 August 2009, Peter Chay Fook Yuen, Bob Yap Cheng Ghee and Tay Puay Cheng, all of KPMG LLP, and subject to the relevant approvals pursuant to section 9 of the Companies Act (Cap. 50), Simon Whicker of KPMG, were appointed jointly and severally as liquidators of PetroProd Ltd. The powers of the existing management of PetroProd ceased with immediate effect on 9 April 2009 (as a result of the appointment of Simon Whicker and Kris Beighton as Joint Provisional Liquidators) and the JOLs are the only authorised agents of PetroProd Ltd with legal ability to act on its behalf. For further information in respect of contact information for the JOLs, please see the section below entitled "Contacts". As of January 2012, The Joint Official Liquidators are in the final stages of the liquidation of PetroProd Limited and its Cayman Islands subsidiaries. Once all tasks have been completed the final applications to move the entities to dissolving will be made in the Grand Court of the Cayman Islands. Contacts
Should you have any queries regarding the closure of the liquidations, please direct to:
Simon Whicker
Tel: +1 345 914 4381
Lucy Higginson
Tel: +1 44 207 694 1018
Corinne Bateman
Tel: +1 345 815 2606 |