Acting for Maybank against POSH Teresea for defaulting its multi-million-dollar underlying facilities agreements

Acting for Malayan Banking Berhad (“Maybank”) against a fleet of 5 vessels owned by POSH Terasea, a joint venture between Pacc Offshore Services Holdings (“POSH”) – the largest Asia-based international operator of offshore support vessels, Ezion Holdings – a listed company on SGX) and Seabridge Marine Services Ltd. POSH Terasea has defaulted on its underlying facilities agreements. Maybank‘s total claim is about US$16 million.

Partner Winston Kwek from the Shipping Practice is leading the case.

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