Ocean Vantage Holdings Bhd’s wholly owned subsidiary, Ocean Vantage Engineering Sdn Bhd (OVE), is facing further legal action from creditors over alleged outstanding payments related to the Engineering, Procurement, Construction and Commissioning (EPCC) works for the Bintulu Additional Gas Sales Facilities-2 (BAGSF-2) project.
Ocean Vantage said OVE has filed and served its Statement of Defence in response to claims brought by seven creditors, with the company maintaining that the amounts allegedly owed were incurred by SSEC, a separate entity from OVE.
OVE’s defence centres on the argument that the outstanding amounts claimed by the creditors were incurred by SSEC, and that the corporate veil between the two entities should not be lifted or pierced as they are separate and distinct legal entities.
The cases are currently pending the filing and service of the plaintiffs’ replies to OVE’s Statement of Defence.
Separately, Ocean Vantage disclosed that OVE and SSEC have been named as defendants in another suit brought by Union Plus Aluminium & Glass Sdn Bhd at the Sessions Court of Sabah and Sarawak at Bintulu.
Union Plus is seeking payment of RM61,609.50, allegedly outstanding for the supply, fabrication and installation of aluminium composite panels, related aluminium works and construction works carried out for the BAGSF-2 project.
The plaintiff is also seeking a declaration that OVE and SSEC are jointly and/or severally liable for the alleged outstanding amount.
However, OVE has sought legal advice and was advised that the writ and statement of claim had not been properly served on the company in accordance with the Rules of Court 2012.
Ocean Vantage said the latest claims form part of a broader group of creditor claims involving parties that worked on the BAGSF-2 project and are represented by the same legal firm.
The company said developments concerning the cases will continue to be referred to its previous announcements dated May 26, May 28 and July 22 to ensure continuity of information relating to the disputes.
Ocean Vantage stressed that the allegations contained in the statements of claim are claims made by the respective plaintiffs and have not been adjudicated by the courts.
At this stage, the group does not expect any immediate financial or operational impact from the litigation, apart from legal costs and management time required to defend the claims.
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