EOL restructuring terms not sitting well with DBS, UOB

Singapore

DBS Bank and UOB Bank have said in joint affidavits that they are not prepared to agree to the terms of the restructuring proposals for Emas Offshore Limited (EOL) and its wholly-owned subsidiary, EOL said after trading closed on Friday.

The affidavits were filed with the High Court, following scheme applications by EOL and its subsidiary.