Wiluan family loses bid to stop JM order on KS Energy
High Court grants OCBC's application to place ailing Singapore-listed oil services firm under judicial management
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Anita Gabriel
Singapore
A SECOND attempt by Indonesia's Wiluan family to fight OCBC's bid to place KS Energy and a key unit under judicial management (JM) failed on Tuesday.
In a two-hour JM hearing at the Singapore High Court that was hotly contested by the management of the beleaguered firm, Justice Aedit Abdullah granted OCBC's application and placed a JM order over the ailing Singapore-listed oil services firm.
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