Norwegian gas carrier operator I.M. Skaugen has been granted a three-month moratorium by the High Court of Singapore to preserve the company’s restructuring process.
The court order follows I.M. Skaugen filing a restructuring application seeking a moratorium to commence the reorganisation of liabilities and businesses. The company presented a restructuring plan in April, which had the support from most of its stakeholders.
“The moratorium will provide much-needed space and time for the IMS scheme companies to implement their restructuring plan,” I.M. Skaugen said in a release.
