Otto Marine has announced that three creditors have filed separate winding up applications with the Supreme Court of Western Australia to wind up two of the company’s subsidiaries, Go Inshore and Go Marine Group.
The total sum claimed against the subsidiaries is around A$787,294 ($600,000), and a court hearing is set for November 8.
Otto Marine is currently under a restructuring through a takeover deal with a company controlled by its chairman Datuk Seri Yaw Chee Siew, and it will delist from the Singapore Exchange upon completion of the deal before September 30.
