KrisEnergy unit dodges winding-up petition after settlement with Rubicon

Posted On: 26-11-2020

Singapore’s independent oil and gas company KrisEnergy and floater provider Rubicon Offshore have settled a contractual dispute that saves KrisEnergy’s Thai subsidiary from being wound up. As part of the deal, KrisEnergy will enter into a new bareboat charter for the Rubicon Vantage floating storage and offloading (FSO) unit, which was at the centre of the dispute that dated back to October 2014.

To remind, in June 2019, KrisEnergy terminated the agreement for the FSO. At the time, the Rubicon Vantage FSO was working on the company’s Wassana oilfield offshore Thailand. Under the settlement, the FSO will be put into operation at its Apsara development in Block A off Cambodia, which approaching production start-up. KrisEnergy said that the novel bareboat charter agreement would be at market rates. The settlement resolves a claim recently made by Rubicon demanding a $2.84 payment concerning the 2014-charter of the Rubicon Vantage FSO. Rubicon also threatened with a winding-up petition against KrisEnergy subsidiary KrisEnergy Gulf of Thailand (KEGOT) unless the payment was made. The agreement between the two firms will have an effective date of 24 November 2020. Rubicon will also immediately take steps to withdraw its winding-up petition against KEGOT in the Cayman Islands. Meanwhile, KrisEnergy and Rubicon will jointly apply to the High Court of Justice Business and Property Courts of England and Wales to discontinue KrisEnergy’s counter lawsuit. The company claimed that the final settlement sum was not yet reached but that Rubicon would file a proof of debt due for $15.3 million in the scheme of arrangement that the oil and gas company has pursued in the High Court of Singapore.
(Credits: www.offshore-energy.biz)



Adoption is the process by which the law permits the creation of a parent-child relationship which did not previously exist. When you adopt a child, Best Lawyers law recognizes the child as the equivalent of your biological offspring. The adopted child has the same rights of inheritance as a biological child, and adoptive parents have the same duty to provide financial support for an adopted child as they have for their biological children. Lawyers near me

Les implants dentaires s'avèrent être la meilleure solution pour remplacer une ou plusieurs dents manquantes ou trop fragiles pour supporter une prothèse. La réussite de la technique est intimement liée au travail pré-opératoire et aux spécialités dentaires coordonnées pour la réalisation des opérations : greffe osseuse, mise en place des implants, implant dentaire Pour tout renseignement sur nos techniques d'ortodontie, n’hésitez pas à contacter notre équipe de chirurgiens dentistes. taille des prothèses, etc. Qu’est -ce qu’un Implant dentaire? C’est une racine artificielle destinée à remplacer une racine naturelle extraite ou manquante sur l’arcade dentaire, et sur laquelle viendra se fixer une couronne remplaçant ainsi la dent naturelle.