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Arrested tanker to be sold
Pursuant to the Order of Court dated July 29, 2019, all interested parties are invited to bid for the purchase of the 'Lai Bao', which has been arrested in Singapore, by private treaty. The bids must be submitted in Singapore Dollars together with a deposit of 50,000 Singapore Dollars in local cashier's order made in favour of 'The Sheriff Of Singapore' and should be placed in a sealed envelope marked 'Tender for Lai Bao' and sent to the Sheriff?s Office, Legal Registry, Level 2, 1 Supreme Court Lane, Singapore 178879, to reach him no later than 1500 hrs, on Nov 1, 2019. Bids made without the accompanying deposit will be rejected. The deposit shall be returned to unsuccessful bidders. The vessel will be sold on an 'as is where is' basis and the sale is on the Sheriff?s standard Terms and Conditions of Sale. It is to be noted that the net value of bunkers on board the 'Lai Bao' is 58,024 Singapore Dollars which is excluded from the sale, and have to be paid by the purchaser. The amount payable is not negotiable.
Parties invited to bid for purchase
The Singapore Supreme Court stated that pursuant to the Order of Court dated July 29, 2019, all interested parties were invited to bid for the purchase of the "Lai Bao", which was moored on the Singepore East Anhorage, by private treaty. The bids must be submitted in Singapore Dollars together with a deposit of 50.000 Singapore Dollars in local cashier's order made in favour of "The Sheriff Of Singapore" and should be placed in a sealed envelope marked "Tender for Lai Bao" and sent to the Sheriff's Office, Legal Registry, Level 2, 1 Supreme Court Lane, Singapore 178879, to reach him no later than Oct 7 at 3 p.m. Bids made without the accompanying deposit will be rejected. The deposit shall be returned to unsuccessful bidders. The vessel will be sold on an "as is where is" basis and the sale was on the Sheriff's standard Terms and Conditions of Sale. Permit to inspect the vessel may be obtained on application to the Sheriff. The net value of bunkers on board the" Lai Bao" was 58.024 Singapore Dollars which is excluded from the sale, and have to be paid by the purchaser. The amount payable is not negotiable.
Tanker arrested in Singapore
The "Lai Bao" was arrested in Singapore on April 18, 2019, at 10 p.m. The arresting solicitor was Oon & Bazul LLP. The vessel was located at Eastern Special Purpose Anchorage A in pos. 01° 17.45' N 103° 55.81' E.
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