Brief: Recreate ASA Says Co Has Initiated Dialogue With Norion As Part Of Efforts Towards Reaching Amicable Solution For Benefit Of All Stakeholders
19/03/2024 21:01
March 19 (Reuters) - Recreate ASA RCR.OL :
* HAS INITIATED DIALOGUE WITH NORION AS PART OF ITS EFFORTS
TOWARDS REACHING AN AMICABLE SOLUTION FOR BENEFIT OF ALL
STAKEHOLDERS
* CO HAS TODAY RECEIVED A COPY OF BANKRUPTCY PETITION IN
WHICH IT
IS ALLEGED THAT CO IS INSOLVENT, CF. SECTION 60 OF NORWEGIAN
BANKRUPTCY ACT
* NORION ARGUES THAT COMPANY'S DEBT LEVEL IS CURRENTLY
UNSUSTAINABLE
* NORION ARGUES THAT COMPANY IS UNLIKELY TO BE ABLE TO
FULFILL ITS
DEBT OBLIGATIONS AS THEY FALL DUE
Source text for Eikon: ID:nObiZpbf5a
Further company coverage: RCR.OL
((Reuters.Briefs@thomsonreuters.com;))
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