The JPLs' first report has now been filed at the Court. The report summarises the work undertaken since the JPLs' appointment on
The JPLs' priority is on completing its negotiations with certain secured creditors, and in so doing seeking to maximise returns for the Company's creditors as a whole. In due course, and with the benefit of knowing whether agreements can be reached with these secured creditors, the JPLs expect to assess the appropriate next steps for the Company, including whether to seek to have the Company placed into official liquidation and have an official liquidator appointed.
In the circumstances, the Company maintains its assessment that it is appropriate at this time for trading in the
The Company will issue a further announcement in due course so as to keep stakeholders appraised of the Company's position, and as otherwise required in accordance with the Company's continuing obligations.
Contact:
Email: Polarcus@fticonsulting.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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