Viking Offshore and Marine has unveiled Monday that it is continuing with legal proceedings against Marine Accomm to recover S$2.2m ($1.8m), Seatrade Asia reports.
Singapore-based Marine Accomm has been placed under receivership in May this year. Viking O&M currently holds 19.86% in Marine Accomm prior to its receivership.
“The company has reasons to believe that amongst others, there were issues with the financial record keeping of Marine Accomm prior to the acquisition by the company of shares in the capital of Marine Accomm (...),” Singapore-listed Viking O&M said. Viking O&M invested approximately S$7.7m into Marine Accomm, comprising of the cost of investment and shareholder's loan.