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EMS Energy says hearing of applications fixed

Thursday, January 12, 2017 - 10:06

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Ting Teck Jin (centre), chief executive officer (CEO) EMS Energy, with his staff.

EMS Energy announced on Thursday that the hearing of applications has been fixed at 10 am on Jan 25 for a special half-day hearing.

This is in relation to, among other things, the termination of a contract by Shanghai Shipyard Co, and the filing of applications by EMS Energy, Koastal Industries and EMS Energy Solutions with the court seeking, inter alia, that the applicants be at liberty to convene a meeting of creditors within six months of the date of the order of court, for the purpose of considering and approving the schemes of arrangement to be entered into between the applicants and their respective creditors.

In November, EMS Energy said that the applicants had sought a three-week adjournment for the hearing of applications and a further extension of the interim moratoria, because they were still in discussions with Shanghai Shipyard Co and not in a position to provide meaningful responses to the creditors' requests for clarifications.

sentifi.com

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