Thu 07/22/2021 01:13 AM
Since Xihe Holdings Pte Ltd (XH) and its subsidiaries were placed under
judicial management on Nov. 13, 2020, the judicial managers (JMs) - Seshadri Rajagopalan and Paresh Jotangia of Grant Thornton Singapore - have taken a two pronged approach to maximise creditor recovery up until April 2021. This combines a structured vessel sales programme within the XH fleet across staggered tranches and structuring a “go forward” fleet via a new corporate (NewCo) entity to address unsecured...
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