Judge cites 'clear case of balance sheet insolvency' for placing KS Energy, key unit under IJM

IN granting OCBC's application to place embattled KS Energy and its key unit under interim judicial management (IJM), High Court Justice Aedit Abdullah said there is a "very clear case of balance sheet insolvency" at the oil services group and that a JM order would seem highly likely, "short of a miracle".

"While miracles can sometimes happen even in commercial settings, some…

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