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
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Are Keppel’s dividends truly unsustainable – or just misunderstood?
UOB aims to double wealth income to at least S$2.5 billion by 2030; Q1 profit slips 4%
Sony, Singapore’s GIC to pay almost US$4 billion for Bieber, Neil Young catalogue
