Jason Holdings completes scheme of arrangement

BELEAGUERED flooring firm Jason Holdings has completed its scheme of arrangement on Oct 17.

The group had filed the application for the scheme of arrangement on Dec 1 last year to restructure the debts owed to its unsecured creditors.

A report by EY released last year that found issues with Jason Holdings' operations has led to multiple claims being made against the company.

Payment to all the participating creditors have been made in accordance to the scheme on Oct 17, and the issuance of the scheme shares and payment of the scheme consideration constituted a full and final settlement of all liabilities owed by the firm to its existing creditors, it said on Thursday night.