Indonesia's Wiluan family loses bid to prevent JM order for KS Energy
Add BT as a preferred source
Anita Gabriel
A SECOND shot by Indonesia's Wiluan family to fight key creditor OCBC's bid to place KS Energy and a key unit under judicial management (JM) failed on Tuesday.
In a two-hour-long JM hearing at the Singapore High Court that was hotly contested by the management of the ailing Singapore-listed oil-services firm, Justice Aedit Abdullah granted OCBC's application for the JM order.
The court has appointed Deloitte & Touche's Andrew Grimmett and Lim Loo Khoon as judicial managers of KS Energy and its key operating subsidiary, KS Drilling (KS Companies).
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
