We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
 Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of the consequences from the bankruptcy of OW Bunker A/S in Denmark.
As of today’s date, the Association is aware of OW companies declaring bankruptcy or taking steps in that regard in Denmark, Germany, Singapore and the USA.
Among these are the parent OW Bunker A/S, OW Bunker & Trading, OW Bunker Supply & Trading as well as OW Bunker Far East.
At present the situation with respect to Dynamic Oil Trading is not sufficiently clear to make a firm statement, but there are likely to be developments in the near future.
The Association is aware of there being possibly up to 40 OW Bunker and related offices around the world and a number of different trading names. As such it is likely that further news and developments will occur in a number of jurisdiction in the near future and members are advised to follow these closely to see how they may be affected.
Affected parties
As a result of this situation a number of different parties have been directly affected.
In the shipping context that includes:
- Shipowners that have bunkers on board supplied by or through OW or an affiliated company
- Time charterers that ordered or received on a chartered vessel such bunkers
- Bunker brokers and traders involved in the arrangement of the supply
- Actual performing suppliers of fuel
- Bunker barge owners and charterers involved in a supply or supply contract related to OW or an affiliated company
As such a significant number of companies may be directly or indirectly affected by this still developing situation.
Bankruptcy effect
While the main parent company, and certain affiliates / subsidiaries have gone in to bankruptcy, it must be understood that:
- the bankruptcy of one company does not immediately mean the bankruptcy of another
- bankruptcies of separate legal entities in separate legal jurisdictions will be handled according to the local law and practice – there is no “global” bankruptcy – but cross border recognition may be granted by some jurisdictions of another’s proceedings
- it is possible to be a creditor in one set of bankruptcy proceedings and a debtor in another
- a company’s bankruptcy does not immediately or necesarily mean it’s contractual positions are closed off, terminated or that it is in any form of repudiatory breach
bankruptcy puts a stay on legal action for that entity in that particular jurisdiction
There are many other issues to consider and members will be well advised to ensure they seek specific advice for specific jurisdictions from local subject matter practitioners in law. There is likely to be no “one size fits all” legal advice or solution to this situation.
Steps to take for creditors
If you believe that OW Bunker A/S or any of its subsidiaries or affiliates owe you any sum, then you need to check if that company is already in bankruptcy.
If the company is not in bankruptcy then you would need to take normal legal steps to recover any sums outstanding or press any legal claims. Should the company subsequently be declared bankrupt then it is likely that such action will be stayed in favour of the bankruptcy proceedings.
If bankruptcy is already underway then it is important to check how, in the specific legal jurisdiction where the specific OW entity is located, a creditor needs to file a claim in the bankruptcy. This is best done early in order to gain admission to creditor meetings and have a vote at such meetings, which often start to follow a few short weeks after the applicable local court grants the order for bankruptcy.
In Denmark, two law firms, Plesner and Gorrisssen Federspiel, have been appointed as trustees in bankruptcy of OW Bunker A/S.
Source: Skuld
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
|
|
|
Showing 3371 to 3375 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
