Creditors can’t sue AirAsia X for another 9 months, says Malaysia court

19-Jun-2021 Intellasia | Reuters | 5:02 AM Print This Post

The Malaysian high court has granted AirAsia X Bhd (AIRX.KL) a nine-month extension on a restraining order which prevents creditors from filing any legal proceedings against it, the airline said in a stock exchange filing.

The filing on Thursday said the extension runs nine months from the day of the announcement.

The court had granted a restraining order in March for three months, as the budget airline undergoes a restructuring of its 64.15 billion ringgit ($15.5 billion) debt.

Earlier this month, AirAsia X shareholders approved its debt restructuring, allowing it to pursue a scheme it viewed as key to survival which includes a rights issue and a share subscription for new investors to raise 500 million ringgit.

($1 = 4.1390 ringgit)

https://www.reuters.com/business/aerospace-defense/creditors-cant-sue-airasia-x-another-9-months-says-malaysia-court-2021-06-18/

 

Category: Malaysia

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