SHIP FUEL SUPPLIER FILES BANKRUPTCY

Ship fuel supplier files bankruptcy. The economy has hit the entire world hard. A Danish company had to turn to bankruptcy in order to address its debts.  They had to go to bankruptcy lawyers. Not because their business was not good. Because it discovered suspected fraud by senior employees in a Singapore based subsidiary. OW Bunker is the world’s largest ship fuel supplier. It is headquartered in Denmark. In fact, it is the third largest company in Denmark. The company had no choice but to file bankruptcy in Aalborg, Denmark. The company owes 13 banks $750 billion. The company went public just this year. Hopes were high. That is no longer the case. The debt is all due to the fraud allegations. The company stated it has discovered the fraud after conducting an investigation. The company went on to blame two key employees suspected of the fraud. The two employees work at the subsidiary Dynamic Oil Trading. This act by a couple of individuals could be devastating. The survival of the company is at stake. Not to mention all the employees who depend on their jobs. The entire country of Denmark could suffer. The alleged fraud is one of the biggest scandals to hit the financial markets in Singapore in the last ten years. Everyone is hoping that experienced bankruptcy attorneys are handling the case. That is the only chance now to make the best of this mess. Bankruptcy lawyers can properly review all the data. They can also give the best advice on how to handle the debt the company now faces. Financial problems have taken place in every country. Bankruptcy lawyers not only help Americans in need. They offer support throughout the world. Now bankruptcy lawyers have a very important task. To save the world’s largest ship fuel supplier. To save Denmark’s economy. To save people’s jobs. It is no small task. Many in Denmark are counting on the bankruptcy attorneys involved.