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FRENCH bank BNP Paribas has filed an appeal against a Singapore court ruling that blocked the winding-up of a shipyard unit of Sembcorp Marine, the rig-building company said.
BNP, France's biggest bank, last November threatened to file a winding-up petition against Sembcorp's Jurong Shipyard unit, in a bid to recover US$50.7 million (S$69.08 million) lost when currency trades made by former finance director Mr Wee Sing Guan went bad.
SembMarine announced last month that a Singapore court ruled to restrain BNP from filing the winding-up application.
'On 4 July 2008, BNP Paribas notified Jurong Shipyard that it has filed a Notice of Appeal appealing against the decision of the High Court,' SembMarine said in a statement issued late on Monday.
'Hearing of the appeal is expected to be held either later this year or early next year.' -- REUTERS
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