Bankrupt Swissco Holdings has announced the provisional liquidation of its wholly-owned Scott and English Energy (S&E).
The board of directors of S&E made a statutory declaration on 11 August that S&E “cannot by reason of its liabilities continue its business.”
A statement from the company said that Aaron Loh Cheng Lee and Lee Meng Yen Angela, both care of Ernst & Young solutions, were appointed as joint and several provisional liquidators of S&E effect from 11 August.
An Extraordinary General Meeting of S&E and a meeting of the creditors of S&E are to be convened on 23 August 2017 to consider various matters relating to the liquidation of S&E, said a stock exchange annoucement.
Scott and English Energy Pte. Ltd. became a wholly-owned subsidiary of Swissco in July 2014.