Asia

Creditors pursue Otto Marine subsidiary

 

Singapore: Singapore-listed offshore entity Otto Marine has revealed that subsidiary, Reflect Geophysical, is being chased for debts by a pair of creditors. The total sum claimed against Reflect in a filings with the Singapore High Court total US$1.1m.
 
Prior to the applications being made, Reflect has been negotiating with these two creditors to reach a settlement on the sums owing. Pending a settlement being reached, and at a hearing held [on Friday], the parties had agreed to an adjournment to 22 February 2013,” Otto Marine said in a statement. [04/02/12]

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