DHC Capital nominated as Independent Assessor for KrisEnergy Ltd (SGX: SK3) scheme of arrangement
DHC Capital has been nominated as Independent Assessor for KrisEnergy Ltd (SGX: SK3) scheme of arrangement. Read on for KrisEnergy’s announcement on the US$270 million debt restructuring via scheme of arrangement and nomination of DHC Capital Partner David Chew as Independent Assessor to review disputes in respect of the admission or rejection of proofs of debt filed by scheme creditors.
About KrisEnergy Ltd
KrisEnergy Ltd is an independent upstream company focused on the exploration for and the development and production of oil and gas in Southeast Asia. KrisEnergy Ltd holds working interests in two producing oil and/or gas fields, one in the Gulf of Thailand and one onshore Bangladesh. It also participates in nine blocks in various stages of the E&P lifecycle in Bangladesh, Cambodia, Indonesia, Thailand and Vietnam.
KrisEnergy Ltd 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 pursuant to section 211B of the Companies Act (now section 64 of the Insolvency, Restructuring and Dissolution Act). KrisEnergy Ltd intends to restructure its liabilities via a scheme of arrangement under section 210 of the Companies Act.