Restructuring Information Centre
On 14 August 2019, KrisEnergy Ltd. (the “Company”) applied to the High Court of Singapore to commence a court-supervised process to reorganise its liabilities and to seek a moratorium against enforcement actions and legal proceedings by creditors against the Company pursuant to section 211B of the Companies Act (Chapter 50) of Singapore. This application will provide the Company with the breathing space and room which are essential to allow it to engage and work with key stakeholders and advisors to pursue a restructuring process. It is the Company’s aim to achieve a restructuring of its liabilities that will be equitable to all stakeholders and will return the Company to viability in the shortest time possible.
The Company has engaged Drew & Napier LLC as legal advisor and Houlihan Lokey (Singapore) Private Limited as financial advisor. As part of the restructuring process, the Company will work closely with its advisors, creditors and stakeholders to achieve the best possible outcome for all interested parties.
The Company will make the appropriate announcements as and when there are any material updates or developments. Shareholders, noteholders and potential investors of the Company are advised to read any announcement carefully.
Should you require more clarification or information, please send enquiries to krisenergy@krisenergy.com.
As announced on 16 October 2020, KrisEnergy has proposed a Scheme of Arrangement. For enquiries, please email to krisenergy@ajcapital.asia.
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