Indonesia's Wiluan family loses bid to prevent JM order for KS Energy

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).