Technics Oil & Gas has judicial management extended till July 15
THE Singapore High Court has extended the Judicial Management Order for Technics Oil and Gas until July 15 this year, the company said in an update.
Tam Chee Chong and Andrew Grimmett, both of Deloitte & Touche, were first announced as the joint judicial managers (JMs) on July 25, 2016.
However, Mr Tam has now been released as judicial manager with effect from Jan 15 due to his retirement from Deloitte.
Mr Grimmett will continue to act as the sole judicial manager.
Among other things, he will manage the role, business and property of the company to achieve its survival as well as "a more advantageous realisation of the company's assets than would be effected on a winding up", Technics said in a filing to the Singapore Exchange on Thursday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs