Brief: Newocean Energy Announces Of Winding Up Petition Against Co

Newocean Energy Holdings

01/11/2021 12:32

Nov 1 (Reuters) - Newocean Energy Holdings Ltd  0342.HK :
    * ON OCT 27, GOT NOTICE THAT WINDING UP PETITION AGAINST CO
WAS
PRESENTED TO BERMUDA COURT BY HONGKONG AND SHANGHAI BANKING CORP
    * PETITION ALLEGED CO FAILED TO SATISFY PETITIONER'S TOTAL
INDEBTEDNES IN SUM OF HK$5.4 MILLION & $70.8 MILLION
    * AMOUNTS WERE OWED TO A FACILITY LETTER DATED 21 JAN 2020
ENTERED
INTO, AMONG OTHERS, BY SOUND AGENTS & NEWOCEAN RESOURCES
(SINGAPORE)
    * SUCESSFULLY CANVASED ADDITIONAL POTENTIAL ACQUIRERS & MORE
THAN
ONE HAS ISSUED NON-BINDING OFFERS FOR LPG ASSETS
    * SEVERAL SCHEME CREDITORS EXPRESSED THEIR PREFERENCE FOR
DEBT
RESTRUCTURING
    * WILL OPPOSE WINDING UP PETITION AND TAKE ALL OTHER ACTIONS
AS
DEEMED NECESSARY

Source text for Eikon:  ID:nHKS3HjBh6 
Further company coverage:  0342.HK 

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