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Marco Polo Marine gets court permission to hold meeting for two schemes of arrangement
MARCO Polo Marine has been granted permission by the High Court to hold a meeting to consider two schemes of arrangement by Nov 30 this year, the firm said in an exchange filing on Thursday evening.
The first scheme of arrangement is between the company and its creditors, while the second is between its subsidiary, Marco Polo Shipyard (MPSY), and their creditors.
Meanwhile, the firm and MPSY have also been granted moratoriums in respect of the current proceedings against them until Nov 30.