SINGAPORE - Singapore's High Court has appointed an independent supervisor to oversee the restructuring of oil trader Hontop Energy .
In the affidavit requesting the appointment of an independent supervisor to run Hontop's affairs, CIMB Bank detailed how it lent Hontop the money to finance two crude oil deals late last year in a section entitled"Suspicious transactions". Hontop Energy and its lawyer TSMP did not respond to e-mails and calls seeking comment about CIMB's affidavit and the appointment of RSM. Calls to Wanda's Dongying headquarters went unanswered.
BP did not specify what the agreement was about or say why it was meant to receive a payment from Hontop.
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Source: BusinessTimes - 🏆 15. / 51 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »