I.M. Skaugen granted court protection in Singapore

I.M. Skaugen granted court protection in Singapore

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.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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