Ocean Tankers' Supervisor to Start Restructuring Talks With Owners

EY, the court-appointed supervisor for Ocean Tankers Pte Ltd (OTPL), has proposed two restructuring options to the shipping company’s owners and could meet with them as early as next week to discuss the plans, according to an EY report seen by Reuters, Reuters reported. The discussions are to ascertain whether the owners - Lim Oon Kuin, his son Evan Lim Chee Meng and daughter Lim Huey Ching, or the Lim family - are “willing to support any future restructuring of OTPL”, the report said. EY declined to comment. Its lawyers, Rajah and Tann did not immediately respond to a request for comment. Evan Lim, the director of Ocean Tankers, said in an email that the Lim family would make it known if it decided to release a statement on the report. The family’s legal and financial advisors did not respond to a request for comment. Read more

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