The man behind OW Bunker's downfall loses oil dispute in Singapore

A key player in OW Bunker's bankruptcy has been convicted by a court in a case, in which the business model resembles the model that played a part in the collapse of the Danish bunker company.

Photo: /ritzau/AP/Wong Maye/

Dennis Tan, known as the owner of bunker company Tankoil in Singapore, which brought down OW Bunker, has lost a protracted legal dispute related to an oil delivery performed by one of his other companies, Petrotec.

According to a verdict issued by the Singapore Supreme Court on April 6, Petrotec and Dennis Tan along with two other shareholders were sentenced to pay a total USD 11.6 million. This figure covers oil purchases and debt to Arabic oil company GP Global, formerly Gulf Petrochem.

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