16 April 2013
Frequently Asked Questions
During the course of liquidation, creditors have raised numerous (but identical) questions about the winding up of the Company. Attached is a list of 6 commonly asked questions and my replies.
<< Attached 6 Commonly Asked Questions >>
Consolidation of Email Addresses
Kindly note that we are consolidating the email accounts for administration of creditors’ claims. Moving forward, the following accounts will no longer be in use:
1. creditors_apl_g@yahoo.com.sg
2. creditors_apl_l@yahoo.com.sg
3. creditors_apl_s@yahoo.com.sg
4. creditors_apl_t@yahoo.com.sg
For future correspondence, please email to absolutinspira@yahoo.com.
Yours Sincerely
Tee Wey Lih
Liquidator
Absolutinspira Pte. Ltd.
13 April 2013
Liquidator’s Update
COI Meeting on 18 March 2013
The Second Committee of Inspection (“COI”) Meeting was held on 18 March 2013 at 700 pm. Set out below is a summary of the key issues discussed:
1. Suit S958/2012/E against a vendor
After in depth discussion with the COI, it was decided that the Company would not proceed with the Suit. The main reasons were the lack of funds to proceed and the uncertainty of recovery from the Suit.
Based on the Statement of Affairs submitted by the directors, the Suit represented the largest possible asset of the Company. In view of the discontinuance of the Suit and with limited realisation of assets, the Liquidator opined that it is unlikely that there would be any dividend distribution to the creditors.
2. Investigation into the Company’s Affairs
The Liquidator has completed investigation into the Company’s affairs. Prior to the winding up, numerous reports were lodged with the Police on alleged misconduct by the directors. The Liquidator is in contact with the police officer in charge. A report will be lodged with the Police to ascertain if there are any wrong doings on the part of the directors.
The meeting closed at 922 pm and the Liquidator thanked the COI for taking their personal time off to attend the meeting. At this juncture, no further date has been set for the next meeting. It was agreed a meeting would be called if there are important matters to be discussed.
Next Update by Liquidator
Once there are further developments (eg. the Police etc), an update will be posted on the webpage. Otherwise, the next update will be posted on the webpage at the end of June 2013.
Yours Sincerely
Tee Wey Lih
Liquidator
Absolutinspira Pte. Ltd.
17 March 2013
To Creditors who have purchased Streetdeal Vouchers
I have been advised by Streetdeal recently that they have sent the following email to the creditors who have purchased Streetdeal vouchers.
From: StreetDeal.sg
Date: 18 February 2013 13:00
Subject: StreetDollars Offer (WITHOUT PREJUDICE)
Dear ,
WITHOUT PREJUDICE
Greetings from StreetDeal Singapore.
We are ready to assist you
We at StreetDeal understand that you were not able to proceed with booking your holidays with AbsolutInspira Pte Ltd (also known as Travelsmoove). As a fellow creditor of AbsolutInspira who attended the creditors’ meeting on 24 January 2013, we empathise with you.
Even though our Terms of Service (“TOS”) provide that the Merchant (in this case AbsolutInspira) is the seller and solely responsible for the goods and services and liable for any losses related to the goods and services purchased by customers, all our customers are valuable to us and it has been StreetDeal’s policy from the start to provide continuous support and assistance to customers in relation to their purchases.
As a gesture of goodwill we would like to offer you, StreetDollars!
Claiming this offer is really easy – all you need to do is agree to the terms and conditions of our offer and fill in your particulars! Your StreetDollars will be credited to you within 15 days from the date you submit your details using the online form and you will be able to enjoy your StreetDollars immediately after activation.
When you are ready to get your StreetDollars, please indicate acceptance of our offer by filling in the online form at http://www.streetdeal.sg/home/info/offer_acceptance so that we can credit the StreetDollars to you.
Please note that our offer is a gesture of goodwill. It is not an admission of liability on behalf of StreetDeal or any party.
You can click on this link http://streetdeal.sg/home/info/faq_sd_offer for more information or contact our team at absolutinspiraclaims@streetdeal.sg.
We thank you and look forward to your continued support.
StreetDeal Team
I wish to inform that it is up to the creditors to accept or decline the offer from Streetdeal. The offer from Streetdeal will not have any effect on the creditors’ claims against Absolutinspira Pte. Ltd.
Creditors who who have purchased Streetdeal Vouchers but did not receive the Streetdeal email may contact Streetdeal team at absolutinspiraclaims@streetdeal.sg .
Yours Sincerely
Tee Wey Lih
Liquidator
Absolutinspira Pte. Ltd.
21 February 2013
Liquidator’s Update
COI Meeting on 18 February 2013
The First Committee of Inspection (“COI”) Meeting was held on 18 February 2013 at 700 pm to discuss several matters, including but not limited to the items below.
1. Approval of new COI members
At the creditors’ meeting held on 24 January 2013, it was resolved that a committee of inspection of not more than 5 members be formed. 3 COI members have already been approved during the creditors’ meeting and subsequent to the meeting, there were 3 further nominations to be part of the COI.
The existing COI members were:
Adeline Seah COI / Representative of Groupon Australia Pty Ltd
Toh Mun Peng COI / Streetdeal consumer
Hui Hwei Iue COI / Streetdeal consumer
The nominees were:
Matt Kasdin Representative of LivingSocial Pty Ltd
R Nagarajan Streetdeal consumer
Lee Wai Hing Streetdeal consumer
The Liquidator made a request to accept all the nominees as part of the COI, in particular to approve Mr Matt Kasdin and Ms. Lee Wai Hing as the new COI members and Mr. R Nagarajan to be the observer. In the event that Ms. Lee Wai Hing is unable to attend the meeting, Mr. R Nagarajan will vote on her behalf. The proposal was accepted by the existing COI and the nominees.
2. Suit S958/2012/E against a vendor
Subsequent to the meeting on 24 January 2013, the Liquidator had spent considerable amount of time assessing the Suit. The Liquidator discussed at length the salient points of the Suit with the COI but no decision could be made due to the following reasons:
A. The COI required more time to understand the Suit.
B. The Liquidator has not received any funding from creditors to continue the legal proceedings.
C. The COI would like to understand the validity of the counterclaims by the vendor.
The Liquidator advised that he would request the Registrar for a further adjournment at the Pre-Trial Conference scheduled for 21 February 2013.
3. Investigation into the Company’s Affairs
The Liquidator informed that despite his appeals, none of the major creditors was prepared to fund the investigations. As discussed previously at the creditors’ meeting on 24 January 2013, the Liquidator will conduct a limited scope investigation and present his findings to the COI subsequently.
The meeting closed at 910 pm and the Liquidator thanked the COI for taking their personal time off to attend the meeting. It was agreed that a 2nd COI meeting be convened on 18 March 2013.
Pre Trial Conference for Suit S958/2012/E on 21 February 2013
The Liquidator attended the Pre-Trial Conference (“PTC”) to seek a further adjournment. The Registrar informed that it would be the final adjournment and that the next PTC would be held in 6 weeks’ time on 4 April 2013 (Thursday).
Next Update by Liquidator
The next update will be posted on the webpage in the week beginning 8 April 2013.
Yours Sincerely
Tee Wey Lih
Liquidator
Absolutinspira Pte. Ltd.
7 February 2013
Kindly be advised that with effect from 8 February 2013, the Liquidator’s office will relocate to 3 Church St Level 25 Samsung Hub Singapore 049483. Consultations are strictly by appointment only.
Set out below are our new contact details:
Tel: 6692 9283
Fax: 6692 9293
Yours Sincerely
Tee Wey Lih
Liquidator
Absolutinspira Pte. Ltd.
28 January 2013
Update on Creditors’ Meeting held on 24 January 2013
A statement of affairs of the Company was tabled together with a list of creditors during the creditors’ meeting. Mr. Nurfaisal Bin Mohamed, director of the Company explained to the meeting the circumstances leading to the proposed winding up.
The Provisional Liquidator updated the creditors on the developments since his appointment. He informed that there are minimal assets and liabilities of more than S$3 million. Total potential claims against the Company are in excess of $7.5 million. He advised that investigations would be required to look in the affairs of the Company. The Provisional Liquidator appealed to the deal sites to put him in funds to conduct the investigations.
The following resolutions were passed by the creditors:
a) Mr. Tee Wey Lih of Acres Advisory Private Limited 3 Pickering Street #02-32 be appointed as Liquidator for the purpose of winding up the affairs of the Company.
b) A Committee of Inspection (“COI”) of not more than 5 members be formed.
For more information, please download the following documents:
- Summary of Statement of Affairs and Creditors’ Summary as at 24 January 2013
- Provisional Liquidator’s Report as at 24 January 2013
- Minutes of Meeting and Attendance List
Yours Sincerely
Tee Wey Lih
Liquidator
Absolutinspira Pte. Ltd.
Liquidator’s Message to Customers who bought Absolutinspira (Travelsmoove) travel packages on Streetdeal site:
After the Creditors’ Meeting, representatives from Streetdeal addressed the customers who bought the Company’s travel packages on their site. They informed that they are working on some packages for the affected consumers.
At present, I do not have details and like most of you, I will be eager to find out. Nonetheless, I urge creditors to be patient. Please refrain from calling or emailing Streetdeal for the time being. Do give them time and space to formulate plans and make the announcement.
Warm Regards
Tee Wey Lih
17 January 2013
To Customers who have bought Travelsmoove travel packages on LivingSocial site:
Livingsocial Vouchers
1. We are pleased to inform that LivingSocial shall refund the full price of the vouchers purchased through their website to all customers that purchased the vouchers, if the customers were unable to redeem these vouchers as a result of Absolutinspira Pte Ltd (Travelsmoove) entering provisional liquidation.
2. For refunds of vouchers, please contact LivingSocial via telephone (1800 586 766) or email (au.help@livingsocial.com.au) and quote your voucher reference numbers, name and contact details.
Direct Payment to Absolutinspira / Travelsmoove
3. If you have made payments to Absolutinspira Pte Ltd (Travelsmoove) directly, you would need to claim such sum from Absolutinspira Pte Ltd directly.
4. For the sum paid to Absolutinspira Pte Ltd / Travelsmoove directly, please register your claim by completing the proof of debt (Form 77) attached and send the form and supporting document (receipts, correspondence etc) to the Provisional Liquidator, Absolutinspira Pte Ltd (In Provisional Liquidation) at Acres Advisory Private Limited 3 Pickering Street #02-32 China Square Central Singapore 048660.
Yours Sincerely
Tee Wey Lih
Provisional Liquidator
Absolutinspira Pte. Ltd.
14 January 2013 as at 7:00 pm
We have sent emails to approximately 1,000 creditors today but we have another 600 more creditors to inform. These are customers who have purchased vouchers from Streetdeal website.
We apologize for the delay as significant amount of time was spent attending to creditors’ queries today after the notices were issued. We will complete the notification process to all customers by 15 January 2013. If you do not receive the notice and proof of debt form by 16 January 2013, please email to absolutinspira@yahoo.com or contact our office at 6224 2482 during office hours from 9 am to 6 pm Monday to Friday.
Yours Sincerely
Tee Wey Lih
Provisional Liquidator
Absolutinspira Pte. Ltd.
14 January 2013
A creditors’ meeting has been scheduled for 24 January 2013. At this juncture, the directors estimated that there are 1,652 creditors with liabilities amounting to S$2.94 million (for details see list of creditors).
We enclose:
- A copy of our letter dated 14 January 2013 (together with Notice, Proxy Forms and Proof of Debt);
- Creditors Ref – G1 to G128 (Liabilities Groupon Voucher);
- Creditors Ref – L1 to L475 (Oversea Customers – Direct Payment) Updated 17 January 2013;
- Creditors Ref – S1 to S1012 (Liabilities Streetdeal Voucher);
- Creditors Ref – T1 to T16 Z1 to Z22 Creditor Summary (Liabilities Travelsmoove and Other Creditors) Updated 17 January 2013;
For ease of administration of your claims, we have created new email addresses for creditors. Please send your queries, proof of debts or proxy forms to the respective email address.
1. Creditors who have previously purchased Groupon vouchers – creditors_apl_g@yahoo.com.sg
2. Creditors who have previously purchased Livingsocial vouchers – creditors_apl_l@yahoo.com.sg
3. Creditors who have previously purchased Streetdeal vouchers – creditors_apl_s@yahoo.com.sg
4. Others creditors – creditors_apl_t@yahoo.com.sg
Lastly, we thank you again for your kind patience and we will strive to attend to your queries as soon as possible.
Yours Sincerely
Tee Wey Lih
Provisional Liquidator
Absolutinspira Pte. Ltd.
c/o Acres Advisory Private Limited
11 January 2013
Kindly be advised that Absolutinspira Pte. Ltd (“the Company”) has been placed under provisional liquidation on 28 December 2012 and Mr. Tee Wey Lih of Acres Advisory Private Limited, has been appointed provisional liquidator of the Company.
Notice of Creditors’ Meeting
We are currently compiling the list of creditors. Formal notices would be sent on 14 January 2013 to inform the creditors about the creditors’ meeting scheduled for 24 January 2013.
For customers who have purchased travel packages from the Company, notices will be sent to the email account which you have used to make your purchases. Please look out for the emails as several creditors have indicated that our emails to them have dropped into their junk/spam mailbox.
Proof of Debt Form
At the same time, a copy of the proof of debt (form 77) will also be sent on 14 January 2013, for you to submit your claims to us. Instructions will be attached to assist you complete the form.
If you do not receive the notice and proof of debt form by 15 January 2013, please email to absolutinspira@yahoo.com or contact our office at 6224 2482 during office hours from 9 am to 6 pm Monday to Friday.
Lastly, we thank you for your patience as we are handling enquiries from many creditors. We strive to attend to the creditors’ queries as soon as possible whilst we administer the winding up in an orderly manner.
Tee Wey Lih
Provisional Liquidator of Absolutinspira Pte. Ltd.
c/o Acres Advisory Private Limited