Ryobi Kiso's judicial managers get court approval to pay some creditors
Add BT as a preferred source
Annabeth Leow
DeeperDive is a beta AI feature. Refer to full articles for the facts.
BELEAGUERED ground engineering solutions firm Ryobi Kiso Holdings and its Ryobi Kiso (S) subsidiary have been allowed to make interim distributions to creditors, the judicial managers of the two companies disclosed in a bourse filing on Wednesday.
The judicial managers had applied in November 2019 to make interim distributions of up to S$7 million to Ryobi Kiso's creditors, and up to S$20 million to the creditors of Ryobi Kiso (S).
They received permission from the court to do so on Feb 5, subject to terms in the court orders that can be given to creditors upon request, according to the latest disclosure.
Judicial managers Goh Thien Phong and Chan Kheng Tek added that they will make more announcements in due course and will notify all creditors "regarding the filing of proofs of debt and related matters".
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
