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Published Tue, Nov 24, 2020 · 09:50 PM
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KrisEnergy

THE winding-up petition against a key subsidiary of debt-hit oil-and-gas company KrisEnergy will be withdrawn after KrisEnergy, together with four of its business units, on Tuesday reached a US$15.3 million settlement with Rubicon Vantage International and its affiliate.

Upon execution of the settlement deed, Rubicon will immediately withdraw the winding-up petition and its statutory demands against KrisEnergy's wholly owned subsidiary, KrisEnergy (Gulf of Thailand) (KEGOT) in the Cayman Islands.

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