In the news – Prosafe schemes sanctioned in Singapore (Global Restructuring Review)
Read on for the GRR article on the sanction of the Prosafe SE (OSX: PRS) and Prosafe Rigs Pte Ltd schemes of arrangement on 18 October 2021. The successful sanctioning of the scheme marks the completion of the Singapore Court supervised process in one of the largest schemes in Singapore enacted under the Insolvency, Restructuring and Dissolution Act 2018 (and its predecessor laws in the Companies (Amendment) Act 2017, which came into force on 23 May 2017).
The Prosafe scheme meetings were held on 28 September 2021, at which the schemes obtained the approval of 100% in number and 100% in value from scheme creditors present and voting for each class of scheme creditors (click here for more information on the scheme meeting).
DHC Capital acted as Chairperson of the scheme meetings and Scheme Manager.
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