Falcon Energy, subsidiary move to call creditor votes

Annabeth Leow

Published Fri, Feb 14, 2020 · 12:52 PM

DEBT-HIT offshore and marine group Falcon Energy and its Asetanian Marine subsidiary have both moved to call creditor meetings to vote on compromises or schemes of arrangement, mainboard-listed Falcon said in a bourse announcement on Friday.

Earlier that day, the two companies had each filed an originating summons for leave to convene the meetings, the board added.

Relevant documents, such as updates from Dec 20, 2019, on regulatory approvals for the planned scheme of arrangement, can be shared with affected parties upon request.

Falcon Energy, which first asked for a debt freeze in July 2019, was most recently allowed in November 2019 to have the moratorium extended to March 2, 2020 as long as it filed its scheme or compromise application by Feb 14.