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Jim Pedersen [pictured], the chief executive officer (CEO) of OW Bunker, has accused three employees at its subsidiary Dynamic Oil Trading (Singapore) Pte Ltd of establishing a massive credit line with a single customer without reporting it in the company's bookkeeping system, Denmark's TV2 News reports.

According to the 24-hour news channel, it received an email from Pedersen's lawyer, John Korso Jensen, who outlined his client's claims.

"Lars Moller (Director of Dynamic Oil Trading) said regarding Jim Pedersen's request that there had been three people in charge of this: Lars Moller himself, the chief accountant and a trader, both in Singapore," Jensen wrote in the email.

The lawyer goes on to say that Dynamic Oil Trading had given a credit of $80 million to Singapore bunker firm Tankoil Marine Services Pte Ltd, but claims that Pedersen did not know about it until only two days before OW Bunker filed for bankruptcy.

"Neither Jim Pedersen, Kent Larsen (OW Bunker's CFO) nor Gotz Lehsten (OW Bunker's vice president) had any knowledge of this fact until this point, November 5, 2014," Jensen said.

Pedersen's lawyer added that OW Bunker's senior management would have become alarmed if the credit to Tankoil had been posted "properly".

The accusation has been rebutted by Arvid Andersen, the lawyer for Dynamic Oil Trading's director Lars Moller.

"It was not my client's job to report what each company owed OW Bunker, and therefore not Tankoil," Andersen told TV2.

The lawyer added that as the credit given to Tankoil also produced "great interest income", OW Bunker's management ought to have been "fully aware of where it came from".