Triyards Holdings hit with new claims as winding up hearing delayed

Triyards Holdings hit with new claims as winding up hearing delayed

Offshore shipbuilder Triyards, part of Singapore’s Ezra Holdings, has announced the rescheduling of a hearing in the High Court of Singapore related to an application by Tractors Singapore seeking to wind up the company.

The hearing, which was scheduled today, will now be held on November 9. Another winding up hearing, filed by Hong Leong Finance, is scheduled for November 7.

In the meantime, the company has been hit with statutory demands from CTBC Bank and one of its suppliers for around $14.6m and $800k respectively. Additionally, a subsidiary of the company has been caught up in litigation claims amounting to around $500k.

Last month, Triyards revealed that DBS Bank had appointed Lim Loo Khoon of Deloitte & Touche as receiver of Strategic Marine (S) Pte Ltd, as well as a hull under construction at Saigon Offshore Fabrication and Engineering and the vessel Lewek Hercules registered under Lewek Hercules Pte Ltd.

Parent company Ezra Holdings is likely to go into judicial management after a rescue deal with Hong Kong Asia Fund Space was abandoned.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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